England is bracing itself for a second lockdown this Thursday.
The four-week restrictions will be difficult for everyone, especially new homeowners.
Those struggling to make payments due to the coronavirus crisis will be able to get a mortgage payment holiday.
The holidays will be available for any household that hasn't already had a payment deferral.
If you're on a payment holiday at the moment, and it was due to last for fewer than six months, will be able to extend it.
The rules allowing for people to apply for mortgage holidays were due to stop but now the scheme has been extended.
Normally if you miss payments or apply for a break it could be bad for your credit rating.
But if you take a holiday due to the pandemic, it won't be recorded on your credit file.
The rules haven't been finalised yet, but the Financial Conduct Authority (FCA) is suggesting it could be available for six months.
If you want to take a mortgage payment holiday you'll have to wait until the new rules are in place.
Mortgage borrowers should contact their lender for support if they're experiencing payment difficulties.
Taking a break from paying for your mortgage should be a last resort, so you should only ask for one if you need it.
Interest will still continue during the holiday which means you'll owe more money on your mortgage.
The FCA said that it is considering a similar approach for consumer credit agreements such as loans and other forms of borrowing.
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