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OnTheMarket Plc

Coronavirus: What financial help is available and how you can claim

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.

OnTheMarket plc (LON:OTMP) provides property search services for buyers, sellers, landlords, and tenants in the United Kingdom.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.