Repossessions banned until 31st October: FCA

The regulator says this will "ensure people are able to comply with the government’s policy to self-isolate if they need to".

The FCA also confirmed the support firms should give to mortgage customers who are either coming to the end of a payment holiday or who are yet to request one.

It confirms last month's proposals that customers will be able to request a payment holiday up to the 31st of October.

The FCA says mortgage lenders should "offer a range of options for how the missed payments will be repaid, if they are able to resume payments".

Finally, the FCA confirmed that payment holidays will not have a negative impact on credit files, but stated that "lenders may use information obtained from other sources, such as bank account information, in their lending decisions".

Christopher Woolard, interim chief executive at the FCA, said: "The measures we have confirmed today will mean anyone who needs to can get help from their lender, if they are still struggling to pay their mortgage due to coronavirus.

"It is important that if a consumer can afford to re-start mortgage payments, it is in their best interests to do so. Customers should talk to their firm about the best option available for them."