With many questions surrounding the financial implications of COVID-19, OnTheMarket takes a look at the help available for homeowners, renters and those worried about their salaries.
Coronavirus mortgage holiday
In a bid to help homeowners who are struggling to pay their mortgage due to COVID-19, the Government has announced a three-month payment holiday.
To apply, homeowners need to contact their lenders. Interest accrued during the period will be added to the outstanding balance of the loan and repaid over the rest of the mortgage loan.
There is also help for those who bought through the Help to Buy scheme. These homeowners can apply for the three-month payment holiday on the equity loan.
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