The Financial Conduct Authority is extending the ban on repossessions by two months until April 1, in light of the pandemic - and that applies to buy to let mortgage holders as well as owner occupiers.
The regulator says lenders should not enforce repossessions before that date, citing the “worsening Coronavirus situation and the government’s tighter Coronavirus-related restrictions which mean that consumers could experience significant harm if forced to move home at this time as a result of repossession proceedings.”
This move mirrors the approach taken through various eviction bans in the private rental sector.
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