Chancellor Jeremy Hunt announces new mortgage measures after interest rate hike

Chancellor Jeremy Hunt has said that mortgage lenders have committed to will implement a 12-month waiting time before they start repossession proceedings against those who cannot afford to pay.

Mr Hunt also said that people who change the length of their repayment term or go on to interest-only plans can reverse their decision within six months without it impacting their credit rating.

Read more on: https://news.sky.com/story/mortgage-holders-to-get-12-month-grace-period-before-repossessions-amid-interest-rate-hike-12908252

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