Banks and building societies would be required to help customers struggling to repay their mortgages, Britain's financial watchdog said on Thursday in proposals to make COVID-era temporary rules permanent.

As Britain faces a cost of living crisis, the Financial Conduct Authority said it has also secured up to 47 million pounds ($59.32 million) of redress from 17 lenders for failures in supporting customers in difficulties. ($1 = 0.7923 pounds) (Reporting by Huw Jones; Editing by Alex Richardson)