Most homeowners in Manchester will never imagine that they’ll miss their mortgage payments, although sometimes an illness or family emergency can cause financial struggle, especially for those with minimal savings and low-income.
It is even more difficult for those who don’t have an insurance policy that would cover their mortgage payments in such a possible event or outcome.
So, we are here to answer the following questions: what should you do if you think you will miss a mortgage payment and how can you recover afterwards?
If you think you’re going to miss an upcoming mortgage payment, the first thing to do is inform your lender. As soon as you miss a payment, this gets instantly marked on your credit record, which could later affect your ability to get a mortgage/remortgage in the future.
Your lender is required to offer support and guidance to borrowers going through a difficult time. Depending on your circumstances and your lender’s criteria, there may be options available that can help you avoid missing a payment.
The most important thing is that you don’t miss the payment because your credit record gets impacted immediately.
Don’t worry about feeling embarrassed, you are not alone—many people will be in the same or worse situation, you won’t be the first or the last who has contacted a lender about this scenario.
If you don’t manage to sort out an alternative arrangement in time and cancel your direct debit or allow your payment to bounce due to lack of funds, your lender may take several attempts to retrieve the money. Depending on the lender, there could usually be several attempts and maybe a period for one missed payment, but you could be hit with a late payment fee, hence impacting your score. Therefore, your ability to get accepted for a mortgage and the amount that you can borrow in the future may be affected.
Once you’ve missed a payment, your lender will want an explanation as to why this had happened.
This will be dependent on the number of missed mortgage payments and also how much time has passed since.
It may still be possible depending on the answers to the above, but it will most likely limit your options and the deals available will typically have higher interest rates.
Ultimately, the recommended option is to protect yourself against missed mortgage payments and to take out income protection insurance that may cover you if you can’t pay. Some think they’ll never need it, but ultimately not having something in place, such as a protection policy or savings to fall back on, can add to what is already a difficult situation.
If you need any additional support or guidance, please speak to one of our Mortgage Protection and Insurance Specialists in Manchester and find out which insurance will benefit you.
The thought of separating from a partner can be quite upsetting. Unfortunately, if things don’t work out and you end up in this situation, there will be lots of things that you will need to sort out, one being your financial situation. If you are financially linked with one another, you may need to try and remove that link so that you are financially independent. This isn’t as easy as it sounds; removing your financial links from others can sometimes be complicated.
An example of a financial link to another person is a joint mortgage. Joint mortgages are mortgages in multiple names, so in this example, the mortgage would be in your’s and your ex-partner’s name. Usually, when people separate, both parties will want to have their name removed from the mortgage. Depending on your situation and your ex-partner’s situation, this can be achieved in different ways.
If you are going through a divorce or separation in Manchester, it’s never going to be easy. As a Mortgage Broker in Manchester, we’ve seen lots of different situations where a divorce or separation has impacted a mortgage. When people come to us for specialist help, we usually receive the same questions:
When you are trying to remove your ex-partner’s name from a mortgage, things can get a little tricky. It isn’t just as simple as asking your lender “can you take their name off the mortgage?”, your ex-partner has to agree with it and your lender will have to determine whether both you and your ex-partner will be financially stable after the name is removed.
Firstly, before your ex-partner’s name is removed from the mortgage, you will have to demonstrate your ability to pay the mortgage payments on your own. This also means that you aren’t allowed any help from your ex-partner, whether or not they’ll let you remove another name depends on whether your sole income allows you to meet the mortgage payments. You should also know that at the point of your application, you both were associated with the deal, therefore if you fall into arrears, the lender can pursue either of you.
Typically, if you are trying to remove your ex-partner’s name from a mortgage, you are going to remain living inside of the property. We find that if there are children involved, it’s usually the case that the mother stays inside the family home, however, regardless of gender, it’s entirely up to you to decide who carries on living on within the property.
In the past, we have seen struggling customers have family or friends who were willing to step in and offer a helping hand. If you have this option available and you can get someone to help you with your mortgage payments, the lender may be more likely to accept your application to get your ex-partner removed.
Depending on your situation, it can sometimes be easier to remove your own name from a mortgage. From our experience, if you’re removing your own name from a mortgage, it’s likely that you are the person planning to move out of the property. If you move out of the property before being removed from the mortgage, you should know that you are still liable for the mortgage payments. This is still the case even if you have made an arrangement with your ex-partner that you will not contribute to any of the payments.
If you are still tied into a mortgage with an ex-partner and you try to get another mortgage, you should know that your chances of being accepted might be lowered. A lender may be put off if they can see that you are linked with another mortgage that you still hold accountability for. If you manage to remove yourself from the mortgage and you can evidence that you’ll be able to meet your mortgage payments, you will stand a higher chance of being accepted by them.
As a Specialist Mortgage Broker in Manchester, we deal with situations like this all of the time. Occasionally, there is someone, perhaps a new partner or family member, willing to offer a helping hand. If you are lucky enough to be in this situation, the lender may be more likely to accept your application for a new mortgage despite you being linked to another one.
Lenders will always consider both sides of the argument. They will look at whether your ex-partner can successfully afford the payments on their own or whether they still need your help. On the other hand, they will also look at your situation, will you be able to manage a mortgage on your own? When they are making this decision they will factor in your current mortgage payments and see if you were handling them okay too.
Some lenders may be more generous when it comes to the amount they’re willing to lend you compared to others. A Mortgage Broker in Manchester like ourselves is specialised in this area, we know what lenders are looking for in applications and which lenders offer these specialist products suited for your situation. We have access to thousands of mortgage deals across our panel of specialist lenders in Manchester.
Although it’s entirely possible to obtain two mortgages (or more in some cases), a mortgage lender will only lend you a second mortgage if they are certain that you’ll be able to manage both of them.
When going through a divorce or separation and you are linked to a mortgage with your ex-partner, even if you aren’t contributing towards the mortgage payments, you are still financially tied with it and therefore you may oppose a threat to lenders. If your ex-partner fails to meet their payments, the lender has the complete right to pursue you to get money off you. This is why if you are planning to get a second mortgage, yet are still paired to another deal, your chances may be lowered of being accepted for a mortgage.
We are not saying that it’s impossible to get a second mortgage when you are linked to an ex’s mortgage, it may just be a little harder. It’s more likely to be made possible through the use of specialist lenders and a good credit score. If you decide to get Specialist Mortgage Advice in Manchester, you could get a bigger picture of your situation and all of the options available to you.
Of course, you could go directly to your bank, however, if you think smartly and approach a divorce and separation mortgage specialist, you may get the ball rolling a lot quicker and could be looking at deals in no-time. Our mortgage service includes calculating how much you could borrow, working out a budget for you and how much deposit you’ll need to put down.
Moving on from previous joint financial commitments can be quite difficult. Just bear in mind that as far as lenders are concerned, it’s all about the risk. They ideally look to avoid repossession situations at all costs. For further Specialist Mortgage Advice in Manchester, get in touch with our fantastic mortgage team today.
Adverse credit can happen far too often, and it’s not an uncommon approach for clients to come to us for Specialist Mortgage Advice in Manchester when they have a missed payments or have a lower credit score than is acceptable.
If you have missed one of your monthly mortgage repayments or something considered relatively minor, such as a missed payment to a mobile phone provider, you could get faced with a default attached to your credit report, which can harm your ability to obtain a future mortgage, as the lender with seeing it as a strong indication that you are a risk.
The good news is that missing any monthly payments or any amount of defaults will not necessarily mean you can’t get a mortgage, but you may need specialist help. The reason for this is that it is reasonably likely you will get turned down for a mortgage by a High Street Bank who may be risk-averse, especially if you only have a smaller deposit for the property you have your eye set on.
Specialist Lenders will want to know when the default got registered against you, and the further away you are from that specific date, the more likely it is that we’ll be able to provide some form of help if it was down to a life event such as separation, ill health or an untimely redundancy. People make mistakes when they are young, and they can feel that these financial mistakes cause trouble down the line.
We may also be able to help if you have had historic mortgage arrears or a County Court Judgement.
Below, we have gathered some helpful answers to common mortgage scenarios regarding Bad Credit Mortgages in Manchester & surrounding areas.
No matter the type of credit problem you have had in the past, your advisor will need to see an up-to-date copy of your credit report, which you can obtain online completely free of charge.
It’s vital that you obtain your credit report before deciding to apply for a mortgage, especially if you have been having any doubts about your credit history. The reasoning for this is that undertaking multiple unnecessary credit searches can further damage your credit rating.
The answer to this depends entirely on your circumstances. Some customers may be a little perplexed when it comes to the impact of their credit. It may look bad, they may have had something flag up and cause problems, but they have a sufficient income & enough deposit to reduce a rate and get a favourable mortgage. Why won’t lenders allow them to borrow a specific amount for a property? Ultimately it all comes down to risk.
The lender needs to have the utmost confidence that you can pay back your mortgage payments without the likelihood of any form of arrears occurring. If the unfortunate happens, your home may get repossessed, which they definitely would prefer to avoid. Though it might sound rather complicated, there are still plenty of routes to take for people looking to get a mortgage with bad credit, even if those routes may incur slightly higher rates. Getting in touch with a dedicated Specialist Mortgage Advisor in Manchester like us will be the most appropriate next step to finding your way towards a potential tailored mortgage to your circumstances.
Sometimes, you may find yourself financially struggling and unable to keep up the mortgage payments you previously had no trouble paying for reasons you may not exactly have control over. These circumstances are not an ideal place to be. Whilst it could be a momentary lapse for a month, one that you can pay back in no time, your record will show it as a missed payment.
There may be other credit issues too during this period, and when it comes to getting a Remortgage at the end of your term or a new mortgage after Moving Home in Manchester, you may find yourself in a spot of concern. Again, this will always end up coming back to the risk. Can the lender trust you not to find yourself in this situation also?
The good news is, we have had lots of experience helping customers who have found themselves with bad credit, especially when they’ve previously had or currently have a mortgage. If you feel like you are in this situation, then getting in touch with a committed Mortgage Broker in Manchester will be crucial to help you with your mortgage journey.
Customers may find themselves with all kinds of different adverse problems regarding their credit, all of which can harm their mortgage process. These issues vary from, but are not limited to;
🏠 Missed Mortgage Payments.
🏠 Credit Card or Loan Defaults.
🏠 County Court Judgements (CCJ’s).
Whilst these are all unfortunate situations to find yourself in, it’s not the end of the road. The process may take longer, there may be more hurdles on your path, and you may end up on a higher rate, but there are specialist lenders out there, some of which we have on the panel, who will accept you depending on what your circumstances are.
To increase your chances of success and open yourself up to better rates, we highly recommend that you take a look at improving your credit score. We have a helpful, in-depth mortgage guide that we’ve written on How to Improve Your Credit Score, which will hopefully put you in a better place for obtaining a mortgage at some point down the line.
A County Court Judgment, or more commonly known as a CCJ, is a court order in the UK that will be issued to you if you fail to pay back any money that you owe.
Having a CCJ associated with your name can put a negative impact on your credit file which could reduce your chances of obtaining a mortgage in the near future. If this is your situation, you will benefit from taking Specialist Mortgage Advice in Manchester from us. We are very experienced within this area and have been dealing with CCJ mortgages for years now. Don’t be afraid to get in touch with our fantastic team, we will be more than happy to try and help.
When applying for a mortgage with a CCJ, you should expect your Mortgage Advisor in Manchester to look at a few things:
🏠 How many CCJ’s are currently registered to your name
🏠 The value of the CCJ
🏠 Are the CCJ’s settled or unsettled
🏠 How much your deposit is
🏠 The date that the CCJ(‘s) was/were registered
You will be issued a CCJ if you fail to pay back any money that you owe. This could be as simple as not paying off a small loan to consecutively missing your mortgage payments. A CCJ can have a negative impact on your credit score.
When you are issued a CCJ, you will get a 30-day period to pay it off (satisfied CCJ). If you manage to meet this deadline, the CCJ may be stripped from your credit file, however, if you fail to meet this payment, it will stay on your records for 6 years in total (unsatisfied CCJ).
Yes you can! Luckily, with the helping hand from a reputable Mortgage Broker in Manchester like ourselves on your side, it may be possible to get a mortgage with a CCJ.
If you managed to meet the 30-day deadline, the CCJ can be withdrawn from your records, hence increasing your chances of getting a mortgage. When you fail to meet the payment within this time frame, you will have the CCJ linked to your name for 6 years.
If the CCJ has been issued recently, it may be more difficult to get accepted for a mortgage. Generally, depending on the remaining total of the CCJ that has still not been paid off, the longer it has been since you were given the CCJ, the more likely that it is that you’ll be accepted for a mortgage.
We work with lots of different specialist mortgage lenders who each have their own lending criteria relating to CCJ’s and how much deposit you’ll require. It’s our job to know this lending criteria well, in order to recommend the best mortgage for you and your personal situation.
When you have a CCJ linked with your credit file, lenders will want to know more information relating to the CCJ. They will look for any underlying issues such as you owing money to another mortgage lender, the effect your financial state could have on the property and how you manage your overall finances.
It may be harder to get accepted for a mortgage with a CCJ, however, it can still be made possible with a few different techniques – one is trying to improve your credit score.
With difficulty and enough sufficient evidence, you may be able to remove your CCJ from your records.
If you feel like you wrongly received the CCJ, you can ask for the court to re-open the case against you. This will come with costs, however, if you manage to get it removed, it will massively benefit you down the line. To appeal your CCJ, you will need to fill out an N244 form and send it to the court. If the case is reopened and the court agrees that the CCJ was wrongly imposed, they will remove the CCJ from the Register altogether and get it cleared from your name.
An unsatisfied CCJ will be removed from your credit file after 6 years has passed since the date that it was issued. Like we have mentioned before, the longer it has been since you were issued the CCJ, the more likely it is that you’ll be accepted for a mortgage. Also, if the debt hasn’t been settled within the 6 years of you being issued the CCJ, this may also negatively impact your chances of being accepted.
Their confidence will also be increased the quicker that you manage to pay off the CCJ. Each lender will look at a CCJ differently though, some lenders may not even work with you if you have a CCJ. It’s likely that you’ll need to approach a specialist mortgage lender to secure a CCJ, on the other hand, if you are lucky, the occasional high street lender may be more lenient.
To get your credit score back on track, you will definitely benefit from taking Bad Credit Mortgage Advice in Manchester. Sometimes you need a bad credit mortgage specialist’s help to guide you back onto the right path.
You will need to keep up-to-date with your mortgage payments, current financial commitments and your CCJ over the 6 years. Even if you’ve paid it off within the 30-day window, you should still be wary of your finances and make sure that this doesn’t happen again, as multiple CCJ’s can hurt your credit score even further.
If you want more free mortgage tips on how to improve your credit score in Manchester, feel free to check out our guides or get in touch with our amazing team of Mortgage Advisors in Manchester today.
Removing a name from a mortgage is not an easy process, no matter if it is divorce, splitting up with your partner, or in a rare case just want to have a mortgage in one person’s name to let the other have more flexibility in their finances.
There are advantages to having a joint mortgage, however, sometimes it works out better to dissolve the partnership and remove a name from your mortgage. Our Mortgage Advisors in Manchester are here to help, using their experience in this area of expertise to help many customers during a financial separation.
Look at the current situation from the point of view of the lender. They may be able to see from your finances that you pay everything on time and have the funds to proceed, but you are still asking them to entrust the payment of your mortgage to one person instead of the two they originally signed a contract with.
They would prefer to still have two people on the mortgage for the sake of security, so if a situation like mortgage arrears or more seriously repossession occurred, they would have two parties to chase for financial compensation. If they were to allow one person off the mortgage, then this means they have half the chance to receive a payment in that instance.
This will all usually be worked out on an affordability basis. If the person who wants the property in their own name, without their now ex-partner/housemate, they will need to go through all the original checks to prove they can in-fact afford to keep up mortgage repayments alone and avoid potential arrears.
This can differ between mortgage lenders and as such you may benefit from the assistance of a trusted mortgage broker in Manchester. During this time, it may be advisable to switch mortgage lenders and get a better mortgage deal in a sole name to erase any ongoing problems. Our Specialist Advice in Manchester may be able to relieve some of your stress, please Get in Touch to get yourself booked in for a free initial mortgage consultation.
When it comes to applying for a mortgage, you need to be careful and watch out for your credit score. The higher your credit score, the more likely that it is that you will be accepted by a lender for a mortgage. There are many different things that can have an effect on your credit score.
One of these, is the fewer addresses you have on your record the better. People are starting to go about this the wrong way though.
More and more, we see applicants who have moved out of their parents address into rented accommodation, but are still leaving their bank statements, credit card and electoral roll information registered to their parents address.
For some reason, people think that it is a good idea and it could help their credit score, however, it can actually damage your credit score. Almost without fail, if you have moved to a new address, there will be some record of this on your credit report, whether you change your details or not.
Things as simple as a delivery address when you have ordered something online or a car/home insurance search can appear on your credit report.
Before you perform a credit search and apply for a mortgage, you have to make sure that, to your knowledge, nothing will affect your credit score. You will need to get all of your accounts (credit cards / current accounts) and electoral roll are all changed over to your current residential address.
This only really applies to you if you have already moved out of your parents home, as when you are moving out to get a mortgage in a new home, you are able to change your details to the new property once you’ve moved in.
Regardless, all these things needs to be double and triple-checked when applying for a mortgage. We always find that people forget to update their address on their credit file and electoral roll. It can make a massive difference to you in your quest for a mortgage!
It’s important that you get the dates right too, knowing the exact date you moved into your rented property and the day that you left it. If you do happen to make a mistake with these dates, lenders may be under the impression you are living in two places at once.
By making sure that every bit of information on your file is up-to-date, you are proving to the lender that you know what you are doing and you are taking the process seriously. It’s a more open and honest way of trying to apply for a mortgage. You want to impress them in any way you possibly can and this is a good way to start doing so.
If you still need a bit more help or just want some insight from a professional Mortgage Advisor in Manchester, feel free to get in touch for a free mortgage consultation.
We know that being a First Time Buyer in Manchester with no mortgage experience can be hard, which is where we are able to help. Get in touch with your friendly Mortgage Broker in Manchester today.
Congratulations you have recently passed your exams and now a newly qualified teacher, you have found the perfect teaching position and cannot wait to get started in the classroom. However, it requires you to relocate to Manchester.
You are now in that stressful yet thrilling times where you are searching for a place to move and balancing the struggle of homeownership whilst starting your new role. Rest assured; we can stay in confidence that you are not the only individual to be in this situation.
It can be a challenge to find a lender willing to offer a mortgage to newly qualified teachers, reasons being having no work history, or having temporary contracts. But do not panic despite all this. It is possible to get a mortgage as a newly qualified teacher.
Some Lenders can lend, even some who will offer reasonable and deals with those working in the education section. However, it is about finding the correct Lender, which can be a daunting task; this is where our Advisors in Manchester can help search thousands of deals to finding you the best deals and rates tailored to your circumstances.
The benefits of using our friendly Mortgage Broker in Manchester. Here are some of the critical things that can get considered:
Our experienced Mortgage Advisors in Manchester know the Lending criteria inside and out; they have years of experience in helping people with their mortgage situations and try their best.
To find out your option to contact us now and our team will take some details from you, then we will find out what your options are and whether you can get a mortgage suitable to your circumstances.
Depending on the situation, a second mortgage is a possible option for you to take up. Here Malcolm has compiled a video to talk to you about the significance of taking out a second mortgage in Manchester.
There are many situations that require a person to have more than one mortgage. We created a list based on a few popular situations our mortgage advisors in Manchester have encountered, as to why two mortgages may be important:
1) Do you want a second mortgage to raise money for your existing home
2) Are you looking to rent out your existing home and purchase a new one
3) Your name on an existing mortgage and you are looking to buy a new property?
4) Are you looking to help your children out with a second mortgage?
5) Do you require a second mortgage to purchase a buy to let property
We have in-depth knowledge of Buy to Let mortgage criteria and worked with many lenders including some specialist ones, all with various lending criteria, for more information check out our Buy to Let Mortgage Advice in Manchester page.
If you have equity in your home and are looking for a second mortgage to release some of this to fund a purchase or anything else, then our team of expert mortgage advisors in Manchester can help. A second mortgage for this purpose is also referred to as a secured loan.
Quite often if you are on a lenders standard variable rate, we are able to shop around and find a more competitive deal at the same time as releasing capital. A further advance with your current Lender is also an option.
Whether you are looking to move to a new house but keep hold of your existing property with the view to let it out we will be able to help. Your second mortgage will be a new residential one. This kind of move is known as a let to buy and has become increasingly popular in recent years.
If you are exploring the options that are available to you, for helping your children or grandchildren with getting on the property ladder there are now many products that our mortgage advisors in Manchester can run through to help you get a step nearer to accomplish this.
If you are looking to purchase a buy to let our team are able to utilise our experience and knowledge to recommend the most suitable Buy to Let mortgage product based on your individual situation. You will be asked to produce a higher deposit for this than a residential mortgage.
Are you currently named on another mortgage and would like to purchase a new property to live in? This is a situation that our team comes across on a regular basis especially due to divorce or separation and can often help.
Whatever your situation is to get a second mortgage, being an experienced Mortgage Broker in Manchester our Advisors are able to search thousands of mortgage deals on your behalf and recommend the most suitable product for you based on your individual situation.
For more information contact us to book your free mortgage consultation, and speak with one of our expert mortgage advisors in Manchester today.
No matter, if you are a First Time Buyer in Manchester or looking to Remortgage in Manchester. Getting mortgage advice in Manchester can help you. Taking mortgage advice can make up the difference between an application getting accepted.
Whereas going independent could lead to your application getting rejected. We’ll search through thousands of mortgage deals for you. Saving you time and your money to ensure you get the best deal.
It’s a mortgage advisors job to find you the most suitable mortgage deal tailored for your circumstances. Some say that there’s no significant difference between an advisor and a broker.
However, here at Manchestermoneyman. We can tell you our team of specialist mortgage advisors in Manchester is authorised and regulated by the Financial Conduct Authority.
This means we have experience and in-depth knowledge of lending criteria. Offering expert advice to clients with all types of individual situations.
Maybe you are first-time buyers who want to get there foot onto the property ladder, and the process can be confusing.
However that’s where we come in our teams of mortgage advisors can walk you through every step, from initial mortgage enquiries. Right until you get the keys.
Perhaps you need mortgage advice because you are looking to remortgage for home improvements, purchasing your next property. Especially if you want to borrow additional money.
Finally, our team of specialist mortgage advisors in Manchester. Can help find suitable mortgages for a landlord looking at Buy to Let in Manchester.
The advantages of using a Mortgage Broker in Manchester. Is to help the entire process of buying a home go as efficiently as possible. Buying a home can be an extremely stressful experience.
Our customers like to know they have got someone on their side. On hand to respond to all their questions and queries, we will also help you with:
Our mortgage advisors in Manchester job is to help try to maximise your chance of being accepted the first time.
Open & honest Mortgage Advice in Manchester by Manchestermoneyman, 8am – 10 pm, seven days a week. As an experienced Mortgage Advisor in Manchester.
We are proud to have the quality of service we provide to our customers. We put our people at the heart of our business and always aim to exceed their expectations. Get in touch with your Mortgage Broker in Manchester today and receive a free mortgage consultation.
On Saturday 31st October, the UK Prime Minister Boris Johnson announced that England would enter a second lockdown from Thursday 5th November, through until Wednesday 2nd December. This was done with the intention to decrease the spread of the coronavirus across the country, with additional restrictions in place.
Luckily for some, this lockdown is a little more relaxed than the first lockdown we experienced, allowing more industries and educational settings to remain open. The thing that initially concerned us the most, was what would happen to the property market. Thankfully, now that Lockdown 2.0 is underway, we can say that everything looks promising and the property market will remains open as normal.
Of course, there has been some minor changes to areas of the home buying process, most of them relating to social distancing. The property market is still standing strong though! Here is a look at some of the things you can still do:
Unlike the start of the last lockdown when the rules were stricter, in this lockdown you are still able to move home if you need to. Home removal services, van hire, everything needed to move home will still be available for people to use.
As mentioned at the start, the process of moving home will have to be completed under the social distancing guidelines. This will be vital to follow if you are either viewing other people’s properties or taking house viewings on a regular basis.
Yes, the government are allowing you to visit your estate agent’s office. However, this is dependent on individual branches, as some estate agents have chosen to work form home and have closed their public office. You may have to check online to see whether they are open or not.
Nowadays a lot of people prefer to transact over the phone, so even if you can’t visit in person, you can rest assured that the staff are fully equipped to get the process started over the phone and even online.
We advise that you take your time if you are going through the process online, and make sure that you fully understand everything that is being communicated.
You can still continue with your house viewings, however, if your estate agent is offering a virtual house viewing, it is probably more recommended to try that. Most home buyers are shifting towards this new way of doing house viewings; as a Mortgage Broker in Manchester, we also expect that the number of virtual viewings will increase over the course of national lockdown.
Even though virtual viewings may be your safest option, we also understand that choosing your dream home is a really big decision for your life going, so if you want to view the property in person, this is understandable. Just remember to be careful!
Your estate agents will also check with the property owners that a property viewing is okay, so long as it is socially distanced property viewing. If they agree, then you can arrange a date and time. Depending on the time of day and the homeowner’s personal situation, they may go out somewhere so that there as few people in the household at one time as possible.
The property market hasn’t been put on pause like it was earlier in 2020, so you are still able to go through the home selling process as normal. You will need to consider everything that comes with selling a property, including choosing an estate agent and a property valuation, getting pictures of the property taken and making it presentable for any viewers.
With the guidelines and restrictions in place, there may be some delay in certain areas of the process, though that should not put you off. Estate agents are very busy right now with enquiries and with all of the different measures in place, things that are normally easy to complete are taking a little longer than they would like.
Yes, conveyancing solicitors will remain open as normal. They will still be available to support the sale of your property. Much like estate agents, most solicitors are working from home and we advise that you be patient as due to the demand in the property market, things may not go as quickly as you’d normally hope for.
As a dedicated Mortgage Broker in Manchester, this is a question that we have been asked quite a lot during the course of the pandemic. It was particularly asked by lots of homeowners during the first UK lockdown.
In this lockdown, even though it’s much shorter, you can take a mortgage payment holiday if it is really deemed necessary. We understand that there are many homeowners out there that need help meeting their mortgage payments. If this is your situation then taking one out could be a real lifeline for you and your home.
To find out more helpful information about mortgage payment holidays and whether you should take one out, check out our article on mortgage payment holidays.
If you took out a mortgage payment holiday during the first lockdown and are currently still on the scheme, you can extend your holiday further so that it comes to a total of six months holiday. However, if you have already had a six month payment holiday and you have already reached the six month limit and therefore unlikely that you will be able to utilise the scheme again going forward.
The property market is slowly catching up to speed and thankfully can continue marching on through this second lockdown. If you are wanting to start the mortgage/home buying process and would like help from someone with experience, it may be within your best interests to get professional Mortgage Advice in Manchester.
With all of the social distancing measures in place and the demand in the market, this could also make things a lot quicker for you. As an experienced Mortgage Broker in Manchester, we have a wealth of knowledge in helping customers achieve their mortgage dreams. We want the whole process to run as smoothly as your do; don’t hesitate to get in touch today and we will get you booked in with a mortgage advisor!