Mortgage payment holidays likely to be extended till 31 October On Friday 22 May, the FCA announced proposals to extend mortgage payment holidays, making them available until 31 October. The proposals had four main tenets: Mortgage holders already on a payment holiday should be able to extend it to 31 October. If you can't start making full or part payments on your mortgage, you can extend your payment holiday. If the lender thinks this would land you in financial difficulty, it will be able to deny the payment holiday and offer other help. Mortgage holders who haven't applied for a payment holiday can do so until 31 October. This lets people who are currently making payments but are concerned about the future have more time to make the decision. Mortgage holders who are able should be able to make partial payments. If you can make some payments towards your mortgage, you'll be able to make an agreement with your lender to do so. Lenders won't be able to repossess properties until after 31 October. The previous ban on this would also be extended. Warning – mortgage holidays MUST be agreed with your lender To take a mortgage holiday, whatever you do, don't just stop your direct debit or standing order. Any mortgage holiday MUST be agreed with your lender first. This means you need to contact your lender and make a formal agreement as to how long you wish your 'holiday' to last. Please call if you need any further information.