Belvoir Stoke on Trent, a leading estate agent in the Stoke-on-Trent, Biddulph and Leek area offers expert mortgage and protection advice with Caris Bayley and the Mortgage Advice Bureau. Caris has been a consultant in the financial service sector for over 19 years’ of which 15 years have been in the mortgage market. By talking with Caris you will be able to assess different mortgage and protection options available to you and more importantly, source the latest and better offers being launched by multiple lenders and organisations.
Helping hundreds of people achieve their property goals and ensuring they stay in a property under unforeseen circumstances, by offering mortgages and protection tailored to them. COVID-19 has certainly tested the market place but you may need to seek expert advice on how you move forward and with what products to give you peace of mind, Caris can do this and help you make the right choices during and after the COVID-19 pandemic.
Payment Holiday’s & COVID–19
It has been well published over the last few weeks mortgage lender’s are offering mortgage payment holidays to those in need following the UK wide lockdown and Covid-19 Crisis
Mortgage Top Tips
- Always apply to your lender for the holiday and don’t just cancel your direct debit as this will affect your credit score
- Buy to Let Lenders are also offering payment holidays to landlord’s
- Only apply for the holiday if you need it – the missed payments are not ‘wiped’ they just accumulate on your mortgage balance resulting in a slightly higher mortgage payment after the payment holiday has ceased
- You can apply to the lenders in various ways for the holiday but the most common way to do this is via an application on the lender's main website or telephone your lender but expect longer than normal response times
- A mortgage payment holiday will not affect your credit score as long as you have applied for it in the appropriate way
Common concerns that Caris is being asked during the COVID-19 pandemic
Q. Can I still get a mortgage to move home in the current climate?
The answer is yes, it’s a very volatile marketplace at present whilst lenders are adjusting to the new ways of working and the physical restrictions placed on the movement of people which affects things such as valuations on properties. However, lenders are extremely committed to keeping the nation moving and new workarounds are happening everyday with some lenders now able to lend up 90% Loan to value with desktop valuation’s which is great news for home movers.
Q. Can I still remortgage my home at the present time for a better rate?
A. The answer is Yes, remortgage rates are at an all-time low with the current Bank of England Base rate changes. The Lower loan to value mortgages are the least affected and there is a full range of both fixed-rate mortgage and also tracker mortgages are also starting to come back into the market. The Remortgage market is very buoyant with Lenders vying for business therefore there are some great rates available.
Q. I have already had an offer with my Lender but it’s due to run out can I extend this?
A. Don’t panic, due to the current pandemic lenders are looking to help the customers in every way they can. Most lenders are offering up to a 3-month extension on the formal mortgage offer. They may ask for additional information at the point of the extension to check that the mortgage is still affordable for the client.
Q. Can I still get a But to Let Mortgage?
A. Yes, you can and with property, prices predicted to drop by 10% from industry experts now may be a great time to start looking into either increasing your portfolio / starting your BTL empire or simply refinancing your Buy to Let mortgage to a more competitive interest rate and get some long term savings.
As a Broker within the Mortgage Advice Bureau, I can offer a wide range of both residential and buy to let mortgage solutions with 90 lenders on the panel to choose from and a combination of over 12,000 mortgage products.
Within the product range, there are Fixed rates of varying terms along with discounted and tracker rates. Our range of lenders also offers bespoke mortgage products for first time buyers, credit repair mortgages, offset mortgages, and ex-pat mortgage ranges among many others – each recommendation is made based on your personal needs and circumstances.
As well as being a mortgage specialist as a broker with Mortgage Advice Bureau I can offer tailored made protection packages to ensure that you and your loved ones are fully protected should you encounter life’s little hiccups – taking the monetary stress out of having a mortgage.