In response to the FCA’s proposal to extend the scope of payment holidays, Mark McELvanney, Sales Director at IE Hub commented:
“The additional support being proposed for customer who are struggling with their mortgage payment is welcomed. We agree with the FCA’s comments that customers who can re-start mortgage payments should do so; this is in their best interest and will prevent further problems being stored up for a later date. The transition framework being proposed also encourages firms to allow customers the opportunity to return to full payments in a sustainable and affordable way.
We expect this transitional period to vary from customer to customer and understand that for some the transition may not be possible at this time. IE Hub is working with several firms to help them engage customers, on payment holidays, and understand their current financial position. Bespoke options can then be considered based on individual circumstances. Our first banking client has just been added to our consumer share list ahead of the first payment holidays coming to an end. They join our fast-growing client list covering sectors from utilities, housing, local authorities, debt collection and money advice.”
About IE Hub:
IE Hub guides customers through the completion of their income and expenditure which they can then share quickly and securely with organisations who are part of the IE Hub share list. The online application means the customer can share their information at a time and pace convenient for them reducing the stress and pressure they may feel giving the information over the phone.
Clients receive the competed income and expenditure in a format and frequency that works for them. This save time and allows the agent to focus on getting to the right outcome with the customer. IE Hub is committed to supporting customer across the UK as they deal with the financial and mental challenges caused by the pandemic. We will continue to offer free trial access to IE Hub for organisations looking to join our share list during the COVID-19 pandemic.
IE Hub is always free for your customer to use and you can sign post them to our service today. Customers can print or e-mail their budget to firms who are not currently part of the share list.