|Chamber Member Nick Lofthouse sent out the following advice, from Mortgage holidays via freezing food to keeping the Kids busy.
See the links below.
Covid-19 : advice and links
These are unprecedented and uncertain times so I want to share with you a series of links and some advice I hope will be helpful for you both in managing the uncertainty and knowing where to go for some answers on how to manage financially at this time.
Please be aware that there are mortgage payment holidays available for many mortgage customers impacted by COVID-19, but the details vary by lender. **To be sure if you can be considered and under what terms, please contact your lender directly, email me if I organised your mortgage or check your lenders website**
For many a payment holiday will apply if you are up to date on payments, not in arrears and can prove that you’ve been affected – directly or indirectly – by Coronavirus. For BTL mortgages, a payment holiday will apply if you are up to date on payments, not in arrears and can prove your tenant is having difficulty in paying their rent due to Coronavirus. You should also be aware that the interest will accrue during the holiday period, up to three months, and you’ll need to make up deferred payments in the future. It will not affect your credit rating. Consider whether you need this and when the right time is to call.
The base rate has now been cut to 0.1% making mortgages much more affordable for anyone on a variable rate.
If you need clarification or would like to discuss your personal circumstances, please email or call me and I will do my best to assist you. I am not stopping 1-2-1 meetings, but instead will be running them via Zoom.