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Provide guarantees to mortgage lenders for the extension of mortgage periods.

Submitted by Wilson Mubaiwa on Saturday 25th April 2020

Published on Friday 10th July 2020

Current status: Closed

Closed: Sunday 10th January 2021

Signatures: 8

Relevant Departments

Tagged with

Banks ~ Covid ~ Covid-19 ~ Economy ~ Government ~ Offered ~ The Government ~ Time ~ Unemployment

Petition Action

Provide guarantees to mortgage lenders for the extension of mortgage periods.

Petition Details

The Government should provide extended guarantees to mortgage lenders for extending mortgages periods by up to one year for everyone impacted by Covid-19. The extension of the mortgage period averts the increased mortgage repayments at the time people are burdened by Covid-19 debts.

Additional Information

The current payment holidays offered by banks alone are inadequate as they prescribe increased payments due to interest and shortened duration for repayment. All this at the time when other debts have mounted due to limited income. The combination of payment holidays and an extended mortgage period of equivalent length to the holidays averts the additional burden of increased mortgages. The weakness of the economy is likely to dictate longer unemployment periods whilst the economy adjusts to the impacts of Covid-19.


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