People on mortgage holidays can still get a helping hand as scheme officially ends

Author
Newstalk ZB,
Publish Date
Wed, 31 Mar 2021, 10:51AM
(Photo / Getty)
(Photo / Getty)

People on mortgage holidays can still get a helping hand as scheme officially ends

Author
Newstalk ZB,
Publish Date
Wed, 31 Mar 2021, 10:51AM

A helping hand for people still on mortgage holidays as the scheme officially comes to an end.

The deferral period ends today, a year after the offer was launched, to ease the strain on home owners during the pandemic.

Bankers' Association chief Roger Beaumont told Kate Hawkesby banks will continue to support the 3,000 households still on the scheme.

"Some of those customers, for example, may get an extended deferral that is outside of this scheme. They might reduce their payments, or they might move to interest only."

He says the scheme has been a huge help to a lot of people.

"To have 66,000 people take that offer up and subsequently go back to normal payments with just 3,000 people left on the scheme as of the end of February, I think that's hugely successful."

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