UPDATE 1-Britain extends help to coronavirus-hit borrowers

(Adds more detail)

LONDON, Nov 2 (Reuters) - Britain's financial watchdog said
on Monday it would extend payment holidays on credit cards, car
finance, personal loans and pawned goods before tougher
coronavirus restrictions come into effect this week.

Britain announced a one-month lockdown across England would
start on Thursday to contain a second wave of the pandemic.

Consumers who have not yet had a payment deferral under
guidance issued in July can request one that lasts for up to six
months, the Financial Conduct Authority said in a statement.

Borrowers who have already had one deferral would be able to
apply for a second deferral, the FCA said.

"Borrowers should only take up this support if they need
it," the FCA said in a statement.

For high-cost, short-term credit like payday loans,
consumers could apply for a payment deferral of one month if
they have not already had one, the FCA said.

"We will work with trade bodies and lenders on how to
implement these proposals as quickly as possible, and will make
another announcement shortly," the FCA said.

The FCA said on Saturday it would propose further relief to
help mortgage borrowers and would make a statement on Monday.

(Reporting by Huw Jones; Editing by Rachel Armstrong and Edmund
Blair)