Nearly half of those who took mortgage breaks have not returned to full payments

Nearly half of the 86,000 home owners who took Covid-19mortgage breaks in March have still not returned to full payments.

In March, banks offered a three-month mortgage break as many faced unemployment and uncertainty in the early days of lockdown.But lenders have now insisted they will not be offering a third three-month payment break - and instead are launching an information and advertising campaign next week. Lenders advice borrowers to engage with them as soon as possible to work out sustainable arrangements for future repayments before their break ends.

These could include the option of restructuring a mortgage into an Alternative Repayment Arrangement.

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Half of Covid-19 mortgage payment breaks still activeAround half of the almost 86,000 mortgage payment breaks that have been granted to borrowers since they were introduced by lenders here in March were still active at the end of last week.
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