Due to the potential impact on household income as a result of the current Coronavirus pandemic, the Government has announced that homeowners with mortgages can seek financial ‘assistance’ from their Banks and Mortgage companies.
Chamonix Estates understands from the Government advice on the 17th March 2020 that households with mortgages facing genuine financial hardship may initially seek a three month repayment break of their mortgage, with suggestions that similar support may be offered with Council Tax payments in the coming days.
With mortgage and Council tax payments being the most significant outgoings/costs for the majority of households that are our Client’s customers, this will provide financially affected homeowners with significant financial relief during this current crisis.
Therefore home owners who are presently or become financially impacted by current Coronavirus related events are advised to contact their Lenders and Local authorities at the earliest opportunity to explore deferring their mortgage and Council Tax payments at the earliest opportunity.
Barclays Bank Mortgages have announced that they will be setting up an area on their website to deal with applications for mortgage payment breaks and other lenders are expected to announce similar measures in the coming days, however we strongly advise our customers to ensure they are on their mortgage lenders actual websites before entering any personal details.
For information from the British Government on their response and advice on the Coronavirus Pandemic please go to the Government Website at https://www.gov.uk/government/topical-events/coronavirus-covid-19-uk-government-response