FCA proposes temporary financial relief for customers impacted by coronavirus

https://www.fca.org.uk/news/press-releases/fca-proposes-temporary-financial-relief-customers-impacted-coronavirus   The Financial Conduct Authority (FCA) has today proposed a range of targeted temporary measures designed as a stop-gap to quickly support users of certain consumer credit products who are facing a financial impact because of the exceptional circumstances arising from coronavirus. This package is intended to complement measures already announced by the government…

Forbearance Measures

In response to the Covid-19 pandemic, the UK Government announced forbearance measures for homeowners and tenants. For homeowners, this would be a payment holiday of up to 3 months and for tenants, security of tenure as landlords would not be permitted to take eviction action for the next 3 months. UK Finance, on behalf of…