Further to the recently announced consultation by the Financial Conduct Authority (FCA), mortgage lenders support the further extension to the moratorium on possessions to 1 April 2021. The extension will help provide reassurance to both residential and buy-to-let borrowers that they will not have their homes repossessed at this difficult time.

The continued support from banks and building societies follows the government’s announcement to extend the ban on bailiff activity in England until 21 February 2021, with Wales and Scotland having banned rental evictions until 31 March 2021.

The mortgage industry’s continued commitment to the possessions moratorium sits alongside payment deferrals and additional forbearance measures, which lenders continue to provide to customers that are struggling with the financial impact of the pandemic. Under the extension, members of UK Finance and the Building Societies Association will agree not to seek, or enforce, a warrant for possession before 1 April 2021.

Eric Leenders, managing director of personal finance at UK Finance, said: “This is part of a package of support provided by lenders for those who need it, including payment deferrals and tailored assistance. It is vital that customers who are concerned about their finances go online or contact their lender to understand what options and support are available to them.”