14 September 2020
Commenting on the FCA’s guidance published today which confirms that mortgage lenders will be able to prioritise support for those customers who most need help, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA said:
“With most parts of the economy now open for business and more consumers able to resume their usual mortgage payments, the flexibility set out for lenders today is welcome indeed.
“There will certainly be people who will require ongoing support, but lenders can now prioritise these customers and offer solutions specific to their circumstances.”
Note to editors:
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2019, FLA members provided £140 billion of new finance to UK businesses and households. £105 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2019.
- For media enquiries, please contact the FLA press office on 020 7420 9656.