On 20 March 2020, the FCA published new guidance for mortgage providers and for lenders taking part in the Coronavirus Business Interruption Loan Scheme. The new guidance clears up some of the uncertainties surrounding the Mortgage Holidays announced last week by the government. Payment Holidays mean customers agree with their lender that they will not…
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The mortgage lenders agreed to support customers experiencing personal financial difficulties as a result of Coronavirus (Covid-19). They have announced a mortgage payment holiday for customers affected by covid-19. All homeowners (unable to pay) will be able to claim three-month mortgage payment holiday because of Coronavirus. Chancellor Rishi Sunak has claimed that all mortgage…
Boris announced that he would bring forward emergency legislation after he was accused of ‘ignoring’ those in privately-rented accommodation. The government stated no-one should have to risk losing their home as a result of the Covid-19 pandemic. Housing Secretary Robert Jenrick said landlords could not start proceeding to evict tenants for at least a three-month…
A client approached us looking to source buy to let finance. He was a trading limited company with a sole director. The client wanted to purchase an ex-Local Authority 3-bed terraced house to rent out on a standard AST. The client could show us his property portfolio – made up of 5 properties and provided…