Mortgages and remortgages – what happens now?

Apr 6, 2020 | Blog, Mortgages

At a time when everything’s changing so quickly and there is a lot of uncertainty, we can appreciate that financial worries may be a concern to many.

One of these areas may be your mortgage or buy-to-let mortgage if you’re a Landlord.  Many lenders are trying to help by offering payment holidays and our recent blog gives some valuable insight and resources in relation to this (link here).

In April, over £20bn worth of mortgages will come to the end of their special rate (source: Mortgage Solutions in January 2020) and revert to the more expensive standard variable rate.  This is effectively the busiest month this year for mortgage maturities and could mean a lot of people are looking to remortgage and get back on a lower rate.  

This will lead to a lot of questions, especially at a time with so much uncertainty and so you may have questions such as:

Am I permitted to remortgage? 

Am I able to get through and discuss options with my mortgage lender when there are unprecedented call volumes?  

Do I need someone on behalf of the lender to visit my property to assess what it’s worth?  

Will I have to simply go onto my lender’s Standard Variable Rate until things improve?  

If I’m self-employed, will I even get a mortgage now?  

Condies Wealth Mortgage Services are here to sift through the information that’s out there, dispel the myths and try to alleviate any worries around your mortgage and remortgaging.  

We are on hand to discuss your remortgage and more importantly what options are available to you.  

We will in the coming weeks continue to update our blog posts with more information as it becomes clear but in the meantime, please get in touch to discuss what we can do to help you – we’re available by calling 01383 721 421 or emailing or you can follow us on Twitter, LinkedIn or Facebook for the latest information.  



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