More than two thirds of homeowners do not need to extend their mortgage holidays, say lenders.
UK Finance, which represents more than 250 firms, has written to the Financial Conduct Authority to warn that proposals to extend the three-month mortgage holiday to six-months would impose a blanket approach that is not in the best interests of most homeowners.
More than 1.8m borrowers have taken advantage of payment holidays since March, equating to about one in six.
The FCA and the Treasury said last week that the scheme would be extended to 31 October.
