Tuesday March 17, 2020
We anticipate that mortgage transactions will take longer than usual whilst many lenders adjust so that their workforces can also work remotely. There is likely to be delays on physical property valuations if we go into a full scale lock down which tends to affect purchases more than re-mortgages, so expectations will need to be managed between purchasers and vendors.
For re- mortgage clients that have products coming to an end this year, your Adviser will contact you approx.. 3-4 months prior to the end date to organise a virtual meeting over the phone, via WhatApp video or similar. We very much anticipate that by making decisions on upcoming mortgage reviews early enough, we should be able to meet the deadlines to prevent reversion to the lenders variable rate wherever possible. With the recent reduction in Bank of England base rate, mortgage rates are very competitive so we don’t want you to miss an opportunity to take advantage of this.
Whilst most applications are currently agreed without the need for a medical or for further information from a GP, there will be some instances where these are necessary. With the additional strain being place on GP surgeries, we may well see a delay (more than usual) with the completion of GP Reports should they be required.
Investment and Pension Clients
With such volatility in the markets, it is important to re-iterate the need for perspective at the moment. We are being updated daily by respected Fund Managers from various providers and are well placed to help you understand the effect of what is happening at the moment. Rest assured that we are at the end of the phone should you have any questions about your portfolios.
Our priority as a business, is to ensure that our clients can access our services remotely and we are fortunate in that we already have a very dynamic set up already in place.
Most of our staff are already working from home and we anticipate all of us will be from Monday, with secure access to all information, emails and documents remotely. Our main office will be closed from Monday 23rd March, our main office telephone number will automatically be redirected to staff mobiles and post will be checked every day.
Lastly, if you become affected financially by the fallout of the current situation and you need advice with regards to any aspect of debt management, your Adviser will help wherever they can, so please feel free to contact us.