Your Mortgage Questions Answered


- Salli Anstey

Should I take a mortgage holiday? What should I do about my buy to let? My mortgage deal is ending! – WE CAN HELP…

For most people, the monthly mortgage commitment is their largest single expense, and as a result of COVID-19, many will be going through some financial strain and certainly some anxiety around this. You may have had your moving plans screech to a halt, be facing your mortgage deal ending or be suffering a dip in finances and wondering if you’re eligible for a mortgage holiday.

Whatever it is – now, more than ever, it’s crucial that you understand as much as you can about your options, so you’re able to act on the areas that will benefit you most.

Our experienced and impartial mortgage advisers at Private Wealth Mortgages can help. Without a fee and with no-obligation, we can chat through your current financial situation and advise you on the best options based on your personal circumstances.

Some queries you may have…

Am I eligible for a mortgage holiday?
The three-month mortgage holiday is available to all homeowners who are up to date on their mortgage payments, and to buy-to-let landlords whose tenants have been financially affected by the coronavirus. It’s designed to help those who are struggling financially, but is it the right option for you and how will it affect your plans for the next few years? We can help with this by looking at your circumstances and providing you with your most beneficial options.

My current mortgage deal is ending, what do I do now?
Your current mortgage deal may be ending or perhaps your rates are up for review later in the year. It’s a crucial time, and really important that the right decisions are made to avoid locking yourself into a situation that can cost you more to get out of when circumstances change again. Our advisers, again without a fee and with no-obligation, can help you choose the right rate going forward, based on your unique circumstances and plans for the future.

I’ve been furloughed and cannot plan.
While this is a health-based emergency, it’s also a financial based emergency and if you have been furloughed from your job or you’re self-employed and work has ceased, life as we know it is put on hold. We can help ease the anxiety and look at scenarios of how your current situation will affect what you may want to do in the next couple of years.

Should I cancel my insurance plans when reviewing my outgoings?
Whilst it is important to review your monthly outgoings at a time where your income may have reduced or stopped temporarily, please take care when considering your insurance policies – it may be difficult to obtain cover again in the future and could leave you unprotected! Equally, it could be a perfect time to review what you are paying for and check it is still relevant to your present circumstances – we are happy to go through this with you and advise accordingly, again at no charge to you.

There are so many more questions at this very unusual time. We don’t pretend to have ALL the answers, but we can certainly help with the ones we have experience in. For a FREE, no-obligation chat about your current circumstances, please give us a call today at Private Wealth Mortgages on 01403 270 006 or email: WE WANT TO HELP YOU!