An estimated 127,000 mortgage payment deferrals were still in place in November, according to UK Finance.

This is down the peak seen in June, which reached 1.8 million.

UK Finance detailed that 89% of those customers whose mortgage payment deferrals have ended have now returned to making repayments.

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Furthermore, an estimated 55,000 credit card and 22,000 personal loan payment deferrals were still in place for customers facing financial difficulty in November.

This is down on the 84,000 payment deferrals on credit cards and 50,000 on personal loans at the end of October

Overall, a total of 1.18 million credit card payment deferrals and 828,000 personal loans deferrals were granted since the launch of the scheme in March 2020.

Eric Leenders, managing director of personal finance at UK Finance, said: “The banking and finance industry remains committed to helping customers get through these challenging times.

“Millions of people struggling with COVID-related income shocks have been supported through payment deferrals, and lenders will ensure customers continue to receive the help they need.

“It will always be in the long-term interest of borrowers who are able to do so to resume making payments, but for anyone who is still struggling ongoing tailored support will be available. The industry stands ready to provide assistance to those in need.”