Home repossessions ruled out by FCA in coronavirus guidance

By Neasa MacErlean

No responsible mortgage lender should be considering repossession under the “exceptional circumstances arising out of coronavirus,” according to the regulator. The FCA has issued new guidance to cover the next three months for lenders in the mortgage market and for those taking part in the Government’s ‘Coronavirus Business Interruption Loan Scheme’. Firms should watch out for updated guidance that will follow if necessary.