Covid Payment Holidays.
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s it likely that using the payment holidays on offer for cards and loans would have an impact on future credit applications , such as a mortgage?
From Which? website:
The FCA says lenders should ensure the temporary measures don’t impact credit reports and scores. Meanwhile, the UK’s three main Credit Reference Agencies (CRAs) have pledged to protect credit scores during the COVID-19 pandemic.
https://www.which.co.uk/news/2020/04/will-a-coronavirus-payment-holiday-impact-your-credit-score/
Furlough for 3 months was a one off. Any longer then government will be taking money like Roosevelt did with gold. Or something similar. Someone will have to pay for this. A payment holiday is a short term fix while the powers at be see how the land lies and have a think. Jmo.. I'm dreading the flu season in October. At least it's summer which is a plus. We have time to plan but payment holiday is just that. Then what?
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