The FCA wishes to extend the deadline for the current ban on mortgage repossessions from 31 January 2021 to 1 April 2021.

It says that this new approach “Takes account of the worsening coronavirus situation and the government’s tighter coronavirus-related restrictions which mean that consumers could experience significant harm if forced to move home at this time as a result of repossession proceedings.”

The regulator adds that the various bans on evictions in some nations means that firms could not enforce home repossessions.

Draft guidelines have been published on the FCA website and it is inviting comments with a deadline of 10am on 18 January 2021.

Earlier this week, the FCA confirmed that it will be sending out a Covid-19 impact survey to advisers for the third time, consisting of 10 questions.