PARLIAMENTARY WRITTEN QUESTION
Mortgages: Private Rented Housing (28 January 2021)

To ask the Chancellor of the Exchequer, whether landlords securing a buy-to-let mortgage holiday in response to the covid-19 outbreak are required to pay back suspended payments on the remainder of the term of their mortgage.

Asked by:
Mike Kane (Labour)

Mortgage holidays have provided support for borrowers to manage their finances during a period of uncertainty. Borrowers will still need to repay the full balance of their loan, and will continue to accrue interest during the payment holiday, unless the lender has indicated otherwise. There are various options for managing this, for example, by increasing their remaining monthly payments, or by adding an extension to the term. Borrowers should talk to their lender to understand the options they offer.

Answered by:
John Glen (Conservative)
3 February 2021