Not Available in the High Street – April 2020

16 April 2020

By Philip H Yates, Consultant: Mortgages & Equity Release


Worryingly, I have seen posts recently claiming that everyone is entitled to defer mortgage payments if Coronavirus has negatively affected their income,
and that you can just stop your direct debit. THIS IS ABSOLUTELY NOT THE CASE and doing so will cause
future credit issues.

If you feel that you need to suspend your mortgage payments most banks have a relatively straightforward process which will involve either the completion
of online forms or a phone call. The bottom line is: CONTACT YOUR LENDER

The second rumour which I have heard recently is that banks are not lending, again THIS IS SIMPLY NOT THE CASE.

There are many instances where banks are still lending, including where the loan to value is within certain parameters, where there is no need for a survey
and most re-mortgages are still possible.

With everything going on and so much misinformation around, it is vital you speak to an independent expert on lending.

We are truly independent
Our status as independent mortgage and later life lending advisers really helps us to research the best scheme for our clients. The list of lenders and their different mortgage products is almost endless.

We study our clients’ circumstances and requirements in detail and then match them to the lenders’ criteria to ensure we obtain the best mortgage scheme.
We offer a free no obligation meeting where clients can discuss the schemes with us so we can explain the options available to them.

If you need any advice relating to your mortgage, or if there is anything else you would like to discuss then please get in touch with our Independent
Financial Services team on 01244 356 789 or email

Please note: This article is provided for information only and must not be considered as legal or financial advice. We always recommend that you seek independent advice before making any financial decisions.