Banks To Defer Mortgage Payments And Increase Credit Limits

17th March 2020

Several major banks have announced support measures for customers affected by coronavirus, including mortgage payment holidays, increased credit limits and penalty-free access to fixed savings.

Barclays, Lloyds and NatWest are among some of the major banks that have confirmed that support will be available to customers affected by Covid-19.

Temporary credit limit increases, payment holidays on credit cards, loans and mortgages and fees waived on missed payments are some of the support measures being rolled out.

However, what exactly is available will depend on your personal circumstances as all customers' situations will be assessed on a case-by-case basis.

This comes after the head of UK Finance, which represents UK banks, acknowledged that some consumers may be worried about falling into financial difficulties due to issues related to coronavirus - for example, if their income drops due to coronavirus measures or they incur unexpected expenses.

See full details of what each bank is offering at -

https://www.moneysavingexpert.com/news/2020/03/banks-to-offer-mortgage-holidays-and-increased-credit-limits-to-/