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How Could The Coronavirus Affect My Mortgage In Grimsby?

Mortgage Advice in Grimsby

We can see that everyone is stressing out in the UK. We are here to help with some of that and we want to help you with any mortgage-related stress. In Grimsby, we are always available to provide the same amazing mortgage advice service that you know us for.

We aren’t here to scare you, we just want to help you! A lot of different dilemmas have come up because of the coronavirus and you are probably questioning where it may leave you financially. Here is what we are going to talk about in this article:

  • Receiving Mortgage Advice in Grimsby over the phone
  • Progressing with your mortgage application
  • The Bank of England rate reduction and how this may affect you
  • Your concerns about not being able to pay for your existing mortgage
  • The mortgage industries reaction to the coronavirus
  • Should you pull out of your purchase?
  • What to do if your Remortgage is due

Mortgage Advice in Grimsby over the phone

Here at Grimsbyoneyman, everything is running like how it was prior to the coronavirus outbreak. We always have Mortgage Advisors in Grimsby waiting to take your phone call from 8am-10pm, 7 days a week. Give us a call and receive a free initial mortgage consultation. Our excellent service isn’t changing at all!

Processing your mortgage application

We are still continuing at the same pace we always do working hard to deliver you fast and friendly Mortgage Advice in Grimsby. We are determined to keep everything the same as it was.

Bank of England rate reduction

The Bank of England has reduced its rates, this meant that lenders decided to follow their actions and decrease their standard variable rates too. On the bright side, this is really helpful for First Time Buyers in Grimsby as these low rates will allow you to get onto the property ladder much easier.

Concerned about your existing mortgage

Potentially, the coronavirus could affect your monthly income, especially if you have to be isolated and are out of work. This could really affect the Self Employed and small business’.

If it is getting harder for you to meet your recurring payments, you may need to contact your lender for help. Sometimes, they can be understanding and could offer you a deal for a mortgage payment holiday period to help you out.

Mortgage industry reaction to coronavirus

Now that interest rates have decreased and lenders are showing no signs of them rising back up, now has never been a better time to get a mortgage in Grimsby. First Time Buyers, the Self Employed and Home Movers have never had an opportunity like this in a long time.

Should I pull out of my purchase?

We are advising that everybody sticks with their purchase only if they are certain that they will be able to afford the payments. For example, if you think that you might lose your job, pulling out of the purchase might be the best option. You are not committed to completing your purchase until the contracts are exchanged, so have a think before making a decision.

My Remortgage is due – should I switch lender or stay with my current one?

At the moment, nothing has changed at Grimsbymoneyman. Speak with your local Mortgage Broker in Grimsby and we will advise you on what to do once we have assessed your requirements.

Mortgage Broker in Grimsby | Grimsbymoneyman

Grimsbymoneyman.com & Grimsbymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Grimsbymoneyman

Grimsbymoneyman, 13 Dudley Street Business Hive, Grimsby DN31 1UL

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