See below some recent news items including some you may have missed. I hope you will find it interesting.
Extension to Mortgage Payment Holidays
Homeowners struggling financially due to coronavirus will be able to extend their mortgage payment holiday for a further three months, or cut payments.Mortgage holidays started in March, allowing people to defer payments without affecting their credit rating.
The Money Advice Service has issued a Guide to Mortgage Payment Holidays on their website
UK competition watchdog investigates holiday firms over refunds
CMA says airlines and holiday firms are subject to 27,000 of 60,000 complaints related to Covid-19. The UK competition watchdog is investigating package holiday firms after receiving thousands of complaints from consumers who have been unable to recoup money on cancelled breaks. Click here to find out what you can do if you have
difficulties getting money back.
Working Tax Credit and reduction in hours worked
To qualify for working tax credit, normally you must work a certain number of hours: at least 30 hours if you’re aged 25-59, or 16 hours if you’re 60+, disabled or single with one or more children. But the Government has confirmed that if you can’t work your normal hours because of coronavirus, you will still receive your usual tax credit payments.