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UK mortgage providers offering forbearance to consumers not necessarily a default trigger, BOE says

( August 26, 2020, 13:49 GMT | Official Statement) -- MLex Summary: UK mortgage providers should not automatically view a borrower as being at risk of default if they continue to be unable to pay their mortgage following the end of a defined payment deferral period, the UK’s Prudential Regulation Authority said today. It issued a statement calling on mortgage providers to treat borrowers who are not able to resume payments in full as they would have before the onset of the Covid-19 pandemic.The statement follows...

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