As we start to come to terms with the daily changes to every day life, we have been speaking with our friends at Property Link Homes in Ripon to find out what it means for you if you have a mortgage or even why, this might just be the best time to invest.
Mortgage repayment holiday
It is important that people are aware of how this works and it is only used if there are genuine problems with making the payments and not just because it is on offer from the lenders. We would encourage people to speak to us if they are considering this route as it does come with other implications and there may well be other options which can be looked at before going for this.
Reducing monthly costs
Now is a great time for everyone to review their mortgages, even if their current rate might not be expiring in the near future, there are some circumstances where it could be worth paying to get out of a current deal and switch to a new one so re-mortgaging could be a great way to reduce monthly outgoings. The rates are the absolute lowest we have ever seen so people should be taking advantage of this. We can FREE mortgage review; we look at all of the circumstances and see what the options are and if a rate switch can be done. Please note if we would be doing a new application to a new lender, our normal fees would apply. There are a lot of people who are just on standard variable rate at the moment (one of those jobs people don’t get around to) so now is the perfect time to be looking at re-mortgaging.
Again to be looked at on a case by case basis but this could be a brilliant option for anyone needing extra finance to live on over the next few months. This could apply to portfolio landlords especially as they might have a range of buy to let properties they can raise finance on.
It’s really important top note that people are still buying houses even in these unprecedented times and now really would be a good time for portfolio landlords to be buying property to rent out to people.
Life insurance and income protection
Some people are totally unprotected life insurance wise and without sounding too sombre, now would be a good time to get something in place. We can also quote for two other products which may be extremely valuable to people, ASU (Accident, Sickness and Unemployment Insurance) Covers people in all of those instances, providers are saying that they would have to hold the insurance for a certain amount of time before they can make a claim so the sooner people get something in place the better and it is the same with income protection although this doesn’t cover redundancy (IP).
Property Link Homes can be contacted using the details below: