As part of the UK’s plans to help homeowners through the Covid-19 pandemic, 1.9 million mortgage payment deferrals, also known as payment holidays, have been granted to struggling homeowners, three months since the launch of the scheme.

One in six mortgages are now subject to a payment deferral and for the average mortgage holder, the payment deferral amounts to £755 per month of suspended payments.

Many homeowners will soon be coming to the end of the deferral period and lenders are now focused on helping customers to consider their next steps. UK Finance said that they will contact borrowers before the end of their...