FCA mortgage guidance to expire in October

In October 2020, the FCA introduced temporary guidance on maturing interest-only and part-and-part mortgages. The guidance allowed borrowers with certain mortgages due to mature between 20 March 2020 and 31 October 2021 to delay repayment of their capital until 31 October 2021. This was subject to being up to date with their payments and maintaining their monthly interest payment.

The FCA has now announced that this temporary guidance will expire on 31 October 2021 and will not be extended.

Lucy Hadrill