Nationwide: mortgage holiday should affect credit record

Homeowners who take advantage of the extended mortgage holiday scheme should have their credit files marked, the Nationwide has said. Lenders look at somebody's credit rating when deciding whether to agree to a fresh loan or contract and the interest rate they will charge. Joe Garner, chief executive of the Nationwide Building Society, said an extension to the mortgage break may signal a borrower was "struggling". He commented as the UK's largest mutual announced a plunge in profits. Its statutory pre-tax profit fell to £466m in the year to April, compared with £833m the previous year. The building society said it had already faced pressure on its profits before it took a £101m hit as a direct result of coronavirus.

BBC News (29/05/2020)   The Daily Telegraph (29/05/2020)