Force the banks to freeze mortgages and loans for 6 months during Coronavirus · petition

What the petition asks

Legislate to freeze mortgages and loans for 6 months so people don't have financial concerns during the Covid-19 crisis. Financial institutions won't lose out in the long term but it gives people respite during this emergency.

During the spread of Covid-19 people are being advised to avoid public places such as bars, transport and cinemas. This means staff in the service industry don't have employment and probably have little money. Forcing financial institutions to freeze mortgages and loans means people temporarily out of work don't have that added stress of eviction or bankruptcy.

Why it was rejected

It asked for something that is not the responsibility of the UK Government or Parliament.

Suspending payments for mortgages and loans is a matter for mortgage providers and lenders, and not the UK Government or Parliament.

You can find out about asking for a mortgage holiday from lenders here: https://www.fca.org.uk/consumers/mortgages-coronavirus-consumers

You can find out about what Government support is available for people as a result of coronavirus (under the section on employment and financial support)here: https://www.gov.uk/coronavirus

If you want the Government to encourage lenders, landlords and utilities to freeze payments during lockdown, you may wish to sign this petition: Encourage lenders, landlords and utilities to freeze payments during lockdown

You can find out more about coronavirus and how you can protect yourself and others here:
www.gov.uk/coronavirus
https://www.nhs.uk/conditions/coronavirus-covid-19/

You can read NHS tips to help if you are worried about coronavirus here: https://www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips

Timeline

17 Mar 2020	Petition opened for signatures
26 Mar 2020	Rejected by the Petitions Committee