Mortgage Update from our mortgages expert, Joanne Osborne of Scarlett Financial Services
In case any of you are not clear about the current mortgage options available to you/friends/family in the event of Covid-19 related financial hardship lenders are currently offering:
Residential mortgage – 3 month payment holiday (please note this is a payment break and the deferred payments will be added to the mortgage balance and repaid later during the mortgage term – not waived)
Buy to Let mortgages – as above in the event of a tenant having financial difficulties
Each lender has a slightly difference process but most of them have an online application process which is advisable to follow as the lenders are struggling to deal with the volume of calls.
If you have any questions, please contact Joanne at Scarlett FS for more information.
