{"id":72292,"date":"2020-09-28T13:20:30","date_gmt":"2020-09-28T13:20:30","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72292"},"modified":"2020-09-28T13:20:31","modified_gmt":"2020-09-28T13:20:31","slug":"mortgage-holders-to-face-a-very-challenging-period-in-the-event-of-a-second-lockdown","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/mortgage-holders-to-face-a-very-challenging-period-in-the-event-of-a-second-lockdown\/","title":{"rendered":"Mortgage holders to face a \u2018very challenging period\u2019 in the event of a second lockdown"},"content":{"rendered":"\n
MORTGAGE holders are set to struggle in the coming months if another national lockdown is introduced. New research that families with credit card debt, mortgage repayments or childcare costs may face dire consequences if more stringent rules are introduced in the winter.<\/p>\n\n\n\n
Mortgage repayments and other debt obligations have been offered a reprieve in recent months as the government launched payment holidays for a number of assets. However, many of these holiday schemes will be coming to a close soon and there are fears that a second lockdown could make situations very difficult for families.<\/p>\n\n\n\n
On this, comparethemarket.com produced a survey of 2,093 adults based in the UK which revealed that many are worried for the future.<\/p>\n\n\n\n
Around a third of families with children detailed they would find it difficult to pay their bills and 33 percent would struggle to afford to look after their families if another national lockdown were imposed.<\/p>\n\n\n\n
Additionally, over a fifth (22 percent) of families with children expect to take a pay cut or reduce their hours in the near future, with 27 percent expecting their jobs to become endangered in the event of a second lockdown.<\/p>\n\n\n\n
Worryingly, 23 percent detailed they would have to take on additional debt to afford the costs of lockdown, with a quarter explaining that they\u2019d have to take out, or extend, a payment holiday (for mortgages and\/or credit cards) to keep afloat.<\/p>\n\n\n\n