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How Might Covid-19 Affect Your Mortgage Progress in Birmingham?

This article was initially published back in March 2020, the property market has now resumed, and this information has become outdated. Everything was 100% accurate at the date that this article was published.

Malcolm Davidson on BBC News | How Has COVID-19’s Impact on The Mortgage Market

Covid-19 & your mortgage application in Birmingham

We understand the effect this outbreak will have on the economy, and some of you may be wondering how the COVID-19 with affect your mortgage? But we would like to point out that we can still help you. We are devoted to our clients and provide fast & friendly mortgage advice in Birmingham & the surrounding area.

Mortgage advice in Birmingham during the outbreak

  • Our mortgage advice service over the telephone.
  • Progressing your mortgage application.
  • Bank of England rate reduction and what this means for you.
  • Concerns about not being able to pay for your existing mortgage.
  • Mortgage industry reactions to the coronavirus.

Our mortgage advice service over the telephone

There’s been no change to mortgage advice service, although, we’re finding that more and more customers want to transact over the phone. We still offer a free, no-obligation mortgage consultation, and it’s the same service seven days a week.  Either way, our advisors are available to answer all your mortgage related questions.

Processing your mortgage application in Birmingham

Business as usual, here we will help you throughout processing your mortgage application.

Bank of England rate reduction and what this means for you

Following the recent rate reduction, most lenders have decided to lower their standard variable rates. For new applicants, it’s our job to ensure that we search for the best mortgage deal for you.

Some fixed rates on offer have actually gone up despite the rate cut!

Concerns about an existing mortgage

If you have been affected by the coronavirus economic wave and are concerned about meeting your mortgage payment, then please call your lender right away. Often, they are very understanding and will agree on a mortgage payment holiday period to help. 

Mortgage industry in Birmingham reaction to Coronavirus

Interest rates are historically very low, and lenders show no sign of significantly increasing these. For first time buyers in Birmingham, home movers and homeowners looking to remortgage, this is brilliant news.  There’s never been a better time to get a mortgage!

Birminghammoneyman.com & Birminghammoneyman 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.

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