Murdo Fraser welcomes extension of mortgage holiday scheme

Murdo Fraser has welcomed the move to extend the holiday mortgage scheme until October.

The politician, who represents the Mid Scotland and Fife region, backs the announcement made on June 2, which will allow home owners in Perthshire and Fife who are struggling to meet the costs of their mortgage during Covid-19 have the benefit of deferring payment until later in the year.

The move follows an alarming report, conducted by the Nationwide Building Society, which found that the housing market suffered its biggest fall in monthly house prices for 11 years last month.

Commenting, Mr Fraser said: “This is a move that will be welcomed by many people who are finding it difficult to make ends meet during the crisis. The Nationwide survey found that many people had been put off moving during Covid-19 and that would-be house buyers were prepared to wait around six months to move on average.

“This is a very sensible move to extend the holiday mortgage scheme and it has to be welcomed. There are thousands of people who are now relying on UK Government schemes during Covid-19 as they have seen their business temporarily close, so any move to help them financially is a positive one in my opinion.”

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