Covid-19 has had a significant impact on all of our lives and no one is certain of what the future may hold. However, the property market has started to return to some kind of normality and with the latest announcement from the UK Government with regards to the stamp duty holiday until March 2021, this is welcomed news for those looking to move home; purchasing up to £500k. 
On the back of this, we have seen a significant increase in new mortgage enquiries in just one week, but lending criteria and interest rates are changing all the time. Our advisers are in regular contact with lenders to ensure we have up to date information for our clients, so we can source the most suitable deal for your individual needs. 
Is your current mortgage deal coming to an end? 
If your current mortgage deal is coming to an end within the next 3-6 months, we can advise you on your options, with your current lender and all mortgage lenders who accept business from mortgage brokers. Due to the pandemic, some lenders have reduced their lending criteria and product options, however they remain the same for product-transfers for their existing customers and this is something we can deal with on your behalf. 
Has your income been impacted? 
Whether you are employed or self-employed, if your income has been impacted negatively due to the pandemic, lenders may still be able to help. If you were furloughed or received help from the self-employed support scheme, they may still consider a purchase or re-mortgage, but this may restrict the amount you can borrow. Having access to the whole of market, we keep updated with the most recent lending criteria’s and source the best deal for your personal situation. If you are looking to do a product transfer with your current lender and your income has been negatively impacted, they will still allow a product transfer and this is something we can arrange for you. 
Have you taken a payment holiday on any finance agreements? 
If you took a payment holiday on any financial agreements, e.g. mortgage, credit card, loan or car finance, then lenders will review this on a case by case basis. 
If you are experiencing financial difficulty and struggling to make your mortgage payments, your first port of call should be with your current mortgage lender to discuss what options you have to prevent you from getting into arrears. 
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