Approvals down to a 7 year low but signs of banks re establishing Mortgage approvals for house purchase plunged by 24 per cent from almost 74,000 in February to 56,200 in March, hitting their lowest level for seven years The…
25% of those questioned have cancelled direct debits without approval A quarter of people seeking mortgage payment holidays are cancelling the direct debit without getting approval from their lender – leaving them in danger of harming their credit score. That’s according…
61,000 payment breaks being granted per day More than 1.2 million households have been granted mortgage holidays under measures to support borrowers in financial difficulty due to coronavirus. In the two weeks between 25 March and 8 April alone the number…
Special measures announced by credit reference agencies Credit scores of borrowers who take Covid-19 payment holidays will be protected under special measures announced today by the credit reference agencies. The government pledged to provide the three-month deferral to anyone who was…
Many key mortgage products increase despite lowest ever base rate Britain’s banks have defied the Treasury and Bank of England’s efforts to get them to lessen the burden on households, raising their interest rates on mortgages after the Bank…
Latest advice effectively puts property market on hold With some banks already withdrawing mortgages from sale, the government’s order that all house moves be put on hold will effectively freeze the housing market. In new government advice, Housing Secretary Robert Jenrick’s…
Major relief for self – employed but no payments until at least June Self-employed workers can apply for a grant worth 80% of their average monthly profits to help them cope with the financial impact of coronavirus, the chancellor has…
Covid 19 Service Update Folks the majority of mortgage lenders are now slowly grinding to a halt for new applications. Most can’t carry out physical property valuations, majority of their employees are either not at work or working from home…
Landlords being encouraged to work with their tenants Anyone struggling with mortgage or rental payments due to the coronavirus can apply for a three-month payment holiday, the government has confirmed. The three-month payment holiday for mortgage borrowers has now been…
Quick links for Halifax, Nationwide &Santander with more set to follow Halifax, Santander & Nationwide customers looking for a mortgage payment break, due to Coronavirus, can now apply for this online.Majority of other lenders are following suit so check out…