Homeowners will get a "three-month mortgage holiday" if they get into difficulty as a result of the coronavirus pandemic.
Chancellor Rishi Sunak announced the step on Tuesday afternoon in the second daily press conference alongside the Prime Minister Boris Johnson.
He said 'never in peacetime have we faced an economic fight like this one' and 'this is a time to be bold, a time for courage'.
The mortgage break is part of a series of pledges to help the UK economy.
Mr Sunak said: "For those in difficulty due to coronavirus, mortgage lenders will now offer a three-month mortgage holiday so that people will not have to pay a penny towards their mortgage cost while they get back on their feet."
It comes after the chancellor unveiled an "unprecedented package" of Government-backed loans worth £330 billion to help businesses.
He said: "That means any business who needs access to cash to pay their rent, their salaries, suppliers or purchase stock will be able to access a Government-backed loan or credit on attractive terms."
He added: "And if demand is greater than the initial £330 billion I'm making available today, I will go further and provide as much capacity as required. I said whatever it takes, and I meant it."
These new measures should be available by next week.
