A BUILDING society has launched a package of support to help borrowers keep their homes if they find themselves in financial difficulty because of the coronavirus.

Darlington Building Society is offering a three-month payment deferral option, which is available up until October 31, as well as a range of flexible options.

Chief executive Andrew Craddock said: “At Darlington Building Society our members come first, and we want to ensure the right support is available during any period of personal disruption, ill health or financial difficulty arising from Coronavirus (COVID-19).

“We have supported out members throughout the Coronavirus outbreak, speaking to everyone who has requested a payment deferral to help them understand if that is the right decision for them.

“It is worth remembering that whilst payment deferrals can help cash flow in the short-term, it does increase costs in the long-term.

“For those Society members who are coming to the end of their payment deferral period we will be in touch to discuss their options going forward, and I would finally encourage any of our members who are experiencing financial difficulties to get in touch to discuss their individual circumstances.”

The society will not commence any action to repossess the home of a member before May 30, 2021 if they are in arrears as a result of Covid-19, as long as they work with them to get their mortgage back on track.

Buy-to-let landlords who take payment deferrals are being encouraged to give their tenants a rent break.

Members can also get free debt advice from its money advisor network.