March 17, 2020 / 5:38 PM / 15 days ago

UK finance minister tells banks to be flexible over coronavirus

FILE PHOTO: Canary Wharf and the City of London financial district are seen from an aerial view in London, Britain, August 8, 2019. REUTERS/Hannah McKay/File Photo

LONDON (Reuters) - Britain’s banks should show flexibility to borrowers affected by the coronavirus, finance minister Rishi Sunak said on Tuesday, adding that a three-month mortgage grace period for home-owners in difficulty was just a first step.

“We have had extensive discussions with the banks, who understand the situation that people are in and will, they have assured me, provide flexibility to those people in those circumstances, and understanding,” he told a news conference.

Reporting by David Milliken; editing by Stephen Addison

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