Should the mortgage holiday scheme have been extended?

Banks warn that some homeowners may struggle to repay additional debt

London houses
(Image credit: Dan Kitwood/Getty Images)

Up to 70% of homeowners who have taken mortgage holidays do not need to extend their payment breaks and are racking up unnoticed debt, Britain’s banking industry has warned.

UK Finance, which represents more than 250 firms in the sector, has written to the Financial Conduct Authority (FCA) warning that plans to extend payment pauses for another three months are not in the “best interests” of customers, says The Times.

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