…By Henry George for TDPel Media.
The charter allows borrowers to switch to an interest-only mortgage for six months or extend their mortgage term to reduce monthly payments, with the option to switch back to the original term within the first six months without a new affordability check or affecting credit scores.
Sewraz emphasized the importance of lenders offering appropriate and tailored support to customers during these uncertain times.
She believed that the current measures are unlikely to alleviate the widespread concerns among homeowners in the UK.