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FCA consults on additional guidance for mortgage providers in COVID-19

The Financial Conduct Authority (FCA) has announced proposals to ensure that firms provide tailored support to mortgage borrowers who continue to face payment difficulties due to coronavirus. The FCA has published a guidance consultation setting out further information for mortgage providers and COVID-19 affected borrowers. The FCA's proposals aim to support mortgage borrowers who have taken up payment deferrals and who continue to face financial difficulties. The proposals will also help those whose financial situation may now be affected by COVID-19 post lockdown. The draft (in consultation until 1 September)…

Covid-19: Help with your mortgage

During these unprecedented times, many homeowners and buy to let landlords will have a fear of what will happen with their home or investment property if they cannot continue to make mortgage payments. Unlike the provisions to protect residential and commercial tenants from eviction, mortgage holidays from UK lenders are (as things stand) not enforced by law. The policy adopted by most lenders is the consequence of an agreement between the government and principle lenders, but, this scheme is voluntary and does not have to be supported by a lender…

Lasting power of Attorney

A Lasting Power of Attorney (LPA) is a way of giving someone that you trust the legal authority to make decisions on your behalf if you lack mental capacity or if you no longer wish to make decisions for yourself. There are two types of LPA, for financial decisions and for health and welfare decisions. The criteria for someone wishing to make an LPA for both types of LPAs are quite straightforward, they must be any person aged 18 or over and the person wishing to make an LPA must…

A fifth of London tenants paying over asking price

Countrywide, the UK’s largest property services group, announced that 1 in 5 tenants based in London pay over the asking price to secure their homes, by comparison with 1 in 8 tenants over the rest of the UK. London, compared to other cities in the country, has seen the largest growth in rents since 2007. Countrywide's monthly lettings index found Londoners were paying an average of £1,309 a month in the year to February, up from £1,295 the year before, £94 above the average monthly asking rent, in London. Over the…

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