FCA is consulting, until 10:00am on 18 January, on updating its guidance for mortgage and consumer credit borrowers in financial difficulties as a result of Covid.
Key proposals are:
- an extension on the ban on repossessions so that firms should not enforce a mortgage repossession before 1 April 2021 except in exceptional circumstances;
- allowing repossessions of goods and vehicles after the current guidance expires on 31 January, but only as a last report.
Otherwise, the current guidance remains in force until revoked.