Don't bank on it: No blanket payment holidays for mortgage holders during lockdown

For the first coronavirus lockdown in March, the banks offered a three-month payment break with no impact on credit rating. They are not being so convivial this time round, writes John Hearne

Banks give away nothing for free. Even when payments were suspended, interest continued to rise.

DESPITE the imposition of level-5 Covid-19 restrictions this week, the banks will not be offering blanket loan-repayment breaks to help mortgage holders impacted by the lockdown.

In March, the five retail banks (AIB, Bank of Ireland, KBC, Permanent TSB, and Ulster Bank), along with Banking & Payments Federation Ireland (BPFI), announced measures to support people and businesses hit by the pandemic.