"Many of our customers are unable to sell their properties as the government lockdown has effectively closed the housing market."
Just says it has recognised that, in some situations, customers and their families are paying interest on loans for houses that they are trying to sell but are unable to due to the lockdown.
It has therefore reduced lifetime mortgage rates on the properties of customers who have died or moved into long term care.
The changes will be backdated to the 26th of March and will last for an initial period of three months, before being reviewed.
Paul Turner, managing director at Just, said: “Many of our customers are unable to sell their properties as the government lockdown has effectively closed the housing market. We don’t have the power to open the housing market but we can help our customers and their families by giving them hundreds of pounds on average.”
