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The FCA has published a consultation covering updated and additional guidance for lenders in relation to the mortgage payment deferral scheme introduced as a response to Covid-19.
Banks and building societies have agreed with regulators and HM Treasury to extend the provision of mortgage payment deferrals of up to a maximum of 6 months in the light of the tightened Covid-19 restrictions announced by the Prime Minister this evening. Customers do not need to contact their lenders yet. Lenders will provide information after 2nd November on how to apply for this support.
On Right to Build Day (30 October) the National Custom and Self Build Association (NaCSBA) and the Building Societies Association (BSA) are releasing the findings of new online market research into self build intentions and the effect of COVID-19 on people’s perceptions of their home.
The Rebuilding Business for Society report–compiled by a group of co-operative and mutual trade associations–says they can play a leading role in reinvigorating communities, especially those left behind by economic or social change.
Consumer views on the housing market rebounded strongly in the BSA’s quarterly consumer survey, Property Tracker.
Following today's statement from Chancellor Rishi Sunkak, the BSA makes the following comments.
Paul Broadhead, BSA Head of Mortgages and Housing comments on the Homes at the Heart campaign release published on 1 July 2020 by the National Housing Federation.
Buyers state job insecurity as the biggest barrier to home ownership (65%) compared to 35% in March 2020), overtaking ‘raising a deposit’ (40%) for the first time in 10 years.
Released today, BSA lending and savings figures for Q1 2020 show that building societies maintained a high market share of new approvals in the quarter. At the end of March, the impact of Coronavirus was yet to make a significant impact on lending volumes.
“We welcome today’s announcements by the Economic Secretary to the Treasury and the FCA and the close collaboration between Treasury, lenders and regulators which has led to them."
In Wednesday’s daily press briefing, Housing Secretary Robert Jenrick MP announced significant steps in reopening the England’s housing market by allowing people to move home and conduct property viewings – activities previously restricted by lockdown measures.