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How Could The Coronavirus Affect Your Mortgage In Coventry?

Coronavirus and your mortgage

Before reading any further, stop panicking! We are here to help if you need any help with anything mortgage-related through this stressful time. Just know that we are still 100% committed to providing you with the exact same fast & friendly mortgage advice service that you are used to.

We really aren’t trying to scare you. We are here to provide you with the help and guidance you need to get you through your mortgage problems during his tough time. Here are some things that we are going to go over in this article:

  • Mortgage Advice in Coventry over the phone
  • Progressing with your mortgage application
  • The Bank of England rate reduction and how this affects you
  • Concerns about not being able to pay for your existing mortgage
  • The mortgage industries reaction to the coronavirus
  • Should you pull out of your purchase?
  • What to do if your Remortgage is due

Mortgage Advice in Coventry over the phone

Our mortgage advice service is exactly the same. Nothing has changed from our advisors’ end either, everything is still done over the phone. Our excellent service will remain as it was prior to the coronavirus outbreak.

Remember, if you get in touch, you will receive a free, no-obligation Mortgage Consultation. A Mortgage Advisor in Coventry is available from 8am-10pm, 7 days a week.

Processing your mortgage application

Again…nothing has changed our team of hardworking advisors are working at the same pace as they always do. Aiming to deliver you with fast and friendly Mortgage Advice in Coventry as usual.

Bank of England rate reduction

When the Bank of England dropped its rates, lenders decided to also decrease their standard variable rates. If you are thinking of buying your first home in Coventry then this is a perfect opportunity to get the ball rolling. The interest rates are down to the lowest that we have seen in a long time!

Concerned about your existing mortgage?

If you get the coronavirus, you will have to take sick leave, potentially affecting you meeting your recurring payments. Surprisingly, mortgage lenders can be very understanding in hard times like these and could agree on a mortgage repayment holiday to help you out.

Meeting your payments being Self Employed in Coventry could be quite challenging, you can always give us a call and we can talk you through your options.

Mortgage industry reaction to coronavirus

The interest rates have dropped, lenders are not looking likely to raise them back up; there has never been a better time to contact your expert Mortgage Broker in Coventry. First Time Buyers, the Self Employed and Home Movers should capitalise on these rates as there hasn’t been an opportunity like this in a long time.

Should I pull out of my purchase?

At the moment, we are advising that everyone sticks with their purchase if they are 100% sure that they will be able to afford it. On the other hand, if you are having doubts that you will or you are concerned about losing your job, you may need to consider pulling out of your payment. You are not committed to completing your purchase until the contracts are exchanged so you have time to think about your options or speak to a Mortgage Advisor in Coventry first.

My remortgage is due – should I switch lender or stay with my current one?

At the moment, nothing has changed. Speak with your Mortgage Broker in Coventry and we will advise you on what to do once we have assessed your requirements.

Nothing has changed on our end. We still recommend that you speak with your Mortgage Advisor in Coventry who will advise you accordingly once they have assessed your requirements. We are able to do this for you, get in touch with your Mortgage Broker in Coventry today, we can’t wait to hear from you!

Mortgage Broker in Coventry

Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2020 Coventrymoneyman

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