Coronavirus Issue | How will mortgage payment holidays work? | Best guide to mortgage payment holidays
If you are worried you may be unable to pay your mortgage because of restrictions in place due to coronavirus – the first step is to contact your lender. The mortgage payment holiday will provide flexibility in repaying your mortgage by allowing you to stop or reduce your monthly payments for up to three months. This won’t be suitable for everyone but could provide much-needed help if you need it, but this won’t be free money.
A BSA spokesperson said: “Should the customer wish, the lender could conduct a full assessment of their finances.
“It’s therefore important that customers who believe they may be impacted by COVID 19, either directly or indirectly, contact their lender at the earliest possible opportunity to discuss if the payment holiday is a suitable option for them.”
Coronavirus Issue | How will mortgage payment holidays work? | Best guide to mortgage payment holidays
First-Time Buyers, These Factors Need To Be Top Priority In Your Home Search | Important Things to Consider When Buying a House
A home is often the major financial investment you’ll make in your lifetime. For various first-time home buyers, searching for a home can impression overwhelming. After all, it’s a big decision, one that will affect your life for years to come. There are a lot of different issues to consider when looking at listings and it’s only natural to want to make sure that you’ve made the right choice.
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