- 26th March 2020
- Posted by: Mark
- Category: advice
Lloyds Banking Group which includes Halifax, Bank of Scotland, Scottish Widows Bank and BM Solutions has granted over seventy thousand of their borrowers a mortgage payment holiday.
Borrowers with the group who may have been in the process of completing their home purchase have been granted an additional 3 months to complete their home purchase, at the agreed rate.
This will come as relief to both existing borrowers and those with mortgage offers who have been unable to complete home purchases due to the ongoing coronavirus situation.
To request a mortgage payment holiday with Lloyds please use the following link
The extension to allow borrowers an additional 3 months to complete their home purchase will be good news for borrowers and sellers alike. It’s not currently known if other lenders will follow suit but given the circumstances we expect more lenders to extend mortgage offers.