FCA publish latest coronavirus updates

The FCA has today published an update on mortgages, consumer credit, banking and payments during coronavirus.

The main points can be summarised as follows:

• repossessions under mortgages cannot be undertaken without exceptional circumstances  before 1 April 2021;
• consumer credit repossessions can take place after 31 January 2021 but this should be used as a last resort;
• consumers continue to have the option to apply for a payment holiday up until 31 March 2021; and
• the FCA will shortly open a consultation on increasing the contactless limit to £100.