Those looking for a Covid-19 payment break from their bank are reminded about looming deadline
Thousands of personal and business loan deferrals have so far been approved since it became available in mid-March
Homeowners and businesses seeking a Covid-19 payment break from their bank are being reminded June 30th is the deadline to apply.
140,000 mortgage, personal and business loan deferrals have so far been approved since it became available in mid-March.
The service provides for a payment break of three to six months for those whose incomes have been impacted by the crisis.
BPFI chief executive Brian Hayes says there are a number of options for those who’re now coming to the end of their break:
“Number one, can you go back and pay your full mortgage, can you make a part payment, do you need another three month payment extension and then around those options will be, whether or not you want to put all of the interest and capital over the full term of the loan or use a term extension for that loan”.
