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Mortgage and consumer credit payment holiday extension

Mortgage payment holidays will continue to be available for homeowners. Borrowers impacted by COVID-19 who have not yet had a mortgage payment holiday will be entitled to a 6 month holiday and those that have already started a mortgage payment holiday will be able to top up to 6 months without this being recorded on their credit file.

Payment holidays will also continue to be available for consumer credit products such as personal loans and car finance. As with mortgages, borrowers impacted by COVID-19 who have not yet taken a payment holiday on that product will be able to top up to 6 months without this being recorded on their credit file.

Borrowers with high-cost short-term credit products such as payday loans will continue to be entitled to a maximum month payment holiday.

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