Banks have agreed to extend mortgage breaks for people financially impacted by covid-19 from three months to six months.
The breaks are available to both personal and business customers.
The Banks and Payments Federation says this will allow impacted personal and business customers a payment break of up to six months in total.
BPFI members confirm Payment Break extension from three months to six months for those directly impacted by #COVID19, as figures show over 65,000 mortgage payment breaks and over 22,000 SME payment breaks granted over past six weeks. https://t.co/PwWTjttYLh pic.twitter.com/xeaNryMNwz
— Banking & Payments Federation Ireland (@BPFINews) April 30, 2020
Over the past 6 weeks, more than 65,000 mortgage payment breaks have been granted.
Meanwhile over 22,000 SME payment breaks have also bee allowed in that time frame.
It's not too late to apply for a mortgage break, you can still get a 6-month break if you haven't put in an application.