Will taking a mortgage holiday affect my credit score?

Many people have been affected financially by the COVID-19 pandemic and the subsequent lockdown and closure of businesses. The government has told mortgage providers to offer mortgage payment holidays to those who may be struggling to keep up with their repayments on a reduced income. This is to try and prevent people from losing their homes as a result of the pandemic. 

Here are some things you need to know when trying to decide whether to take a mortgage holiday. 

What is a mortgage holiday?

Homeowners can currently ask their lender for a three-month mortgage payment holiday.

Morses Club PLC (LON:MCL) is an established, relationship-driven consumer finance provider offering a range of credit products and delivering exceptional services to customers in the non-standard finance market.

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