Coronavirus – New mortgage holiday should affect credit record, says Nationwide boss

Industry News | 29/05/20

A borrower’s credit file should be marked if they take a further mortgage holiday, the Nationwide has said.
Lenders look at somebody’s credit rating when deciding whether to agree to a fresh loan or contract and the interest rate they will charge. Joe Garner, chief executive of the Nationwide Building Society, said an extension to the mortgage break may signal a borrower was “struggling”. He made the comment as the UK’s largest mutual announced a plunge in profits.

Source: BBC