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BRIEF-UK'S FCA Announces Further Proposals To Support Mortgage Borrowers Impacted By Coronavirus

Nov 2 (Reuters) -

* UK’S FCA ANNOUNCES FURTHER PROPOSALS TO SUPPORT MORTGAGE BORROWERS IMPACTED BY CORONAVIRUS

* UK’S FCA PROPOSING TO EXTEND AVAILABILITY OF PAYMENT DEFERRALS TO SUPPORT BORROWERS WHO ARE EXPERIENCING PAYMENT DIFFICULTIES BECAUSE OF CORONAVIRUS

* UK’S FCA SAYS UNDER FCA’S PROPOSALS, BORROWERS WOULD HAVE UNTIL 31 JANUARY 2021 TO REQUEST A PAYMENT DEFERRAL

* UK’S FCA IS ALSO PROPOSING THAT NO ONE WILL HAVE THEIR HOME REPOSSESSED WITHOUT THEIR AGREEMENT UNTIL AFTER 31 JANUARY 2021

* UK’S FCA SAYS URGING CONSUMERS NOT TO CONTACT THEIR LENDER UNTIL THE ENHANCED MEASURES ARE IN PLACE. LENDERS WILL SOON PROVIDE FURTHER INFORMATION

* UK'S FCA SAYS TAILORED SUPPORT WILL STILL BE OFFERED BUT WE ARE PROPOSING TO EXTEND PAYMENT DEFERRALS FOR ADDITIONAL SUPPORT Source text: bit.ly/3ehplBo

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