Covid-19 Mortgage Hub
We have put together a number of Covid-19 updates from the leading Mortgage providers in the UK, to provide some guidance to our clients and those who need some support at a crucial time.
If you need any individual assistance please feel free to get in touch – we would like to help as much as possible.
Insurance – We have a dedicated Insurance Page for updates from our Insurer Panel – go to essexhomefinance.co.uk/covid19-insurance
Mortgage News
Latest Update : 1st May 2020
The latest advice and guidance from a number of Mortgage Lenders is listed below – restrictions on certain types of mortgage, and help with any Mortgage Payment requests
Current Lending Changes :
Purchases
- Nothing above 75% LTV for residential
- Not accepting New Build, Flats, Buy to Let, Properties in Northern Ireland, Non-standard methods of construction or higher than £1m valuation
Payment Holiday
https://www.accordmortgages.com/existing-customers/coronavirus-info/index.html
Current Lending Changes :
Purchases
- Residential – Nothing above 85% LTV
- Buy to Let – Nothing above 75% LTV
- Not accepting Help to Buy or HMO/MUBs up to 6 bedrooms/units
Mortgage Holiday
Residential – https://www.aldermore.co.uk/help-centre/coronavirus/coronavirus-information-for-mortgage-customers/
Business / Commercial – https://www.aldermore.co.uk/help-centre/coronavirus/coronavirus-information-for-business-finance-customers/
Current Lending Changes :
Purchases
- Lending restricted to 85% Loan to Value
Mortgage Holiday
Current Lending Changes :
Purchases
- Borrowing increased, now to 80% Loan to Value
- Not accepting any Portfolio BTL Landlord cases
- Borrowing Increased, now 80% Loan to Value
Mortgage Holiday
Current Lending Changes :
Mortgage Holiday
Current Lending Changes :
Purchases
- No Lending above 60% Loan to Value
Mortgage Holiday
https://www.bmmortgages.co.uk/existing-customers/payment-holidays/
Current Lending Changes :
Financial Difficulties / Mortgage Holiday
https://www.bucksbs.co.uk/coronavirus-covid-19.html
Current Lending Changes:
Purchase
- Not accepting Let to Buy or Topslicing Applications
Mortgage Holiday
Current Lending Changes :
Remortgages
- Re-introducing 75% Loan to Value products – Buy to Let and Residential
Mortgage Holiday
https://www.coventrybuildingsociety.co.uk/consumer/help/mortgages/mortgage-payment-holiday.html
Current Lending Changes :
Purchases
- Currently up to 65% Loan to Value
- Up to 60% Loan to Value for Buy to Let – Purchase and Remortgage
Remortgages
- Up to 75% Loan to Value for Residential Remortgages
Mortgage Holiday
https://secure.cbonline.co.uk/landing-pages/mortgage-holiday/
Current Lending Changes :
Purchase
No Lending above 60% Loan to Value
Mortgage Holiday
https://familybuildingsociety.co.uk/FamilyBuildingSociety/Corona-virus-update.aspx
Current Lending Changes :
Purchases
- No purchases above 60% Loan to Value
- Removed Free Valuation Product Range
Mortgage Holiday
Current Lending Changes :
Mortgage Holiday
https://www.furnessbs.co.uk/coronavirus/mortgage-repayment-holidays/
Current Lending Changes :
Purchases
- Now lending up to 85% Loan to Value
- Up to 85% Loan to Vale for Shared Ownership / Shared Equity and New Build
Remortgages / Product Transfers
- Products now up to 85% Loan to Value
Mortgage Holiday
https://www.halifax.co.uk/mortgages/existing-customers/payment-holidays/
Current Lending Changes
Purchases
- No Lending above 80% LTV (but only offering 60% if a desktop valuation is needed).
- Minimum loan now £100k
Mortgage Holiday
Current Lending Changes :
Mortgage Holiday
https://www.hodgeforintermediaries.co.uk/hodge-hub/news/how-were-reducing-the-impact-of-covid-19/
Current Lending Changes :
Mortgage Holiday
https://www.ibs.co.uk/blog/corporate/coronavirus-covid-19-frequently-asked-questions
Current Lending Changes :
Purchases
- Rates reduced from 30th April- Fixed Rates
- Available up to 90% Loan to Value
- No BTL Purchase or Remortgages
Remortgages
- Rates reduced from 30th April- Fixed Rates
- Potentially up to 90% Loan to Value
Mortgage Holiday
https://www.hsbc.co.uk/help/coronavirus/faqs/#mortgages
Current Lending Changes :
Purchase
- Now up to 75% LTV on Residential / purchases
- Maximum property value £1m
- Withdrawal of BTL Purchase
Mortgage Holiday
https://kensingtonmortgages.co.uk/existing-customers/covid-19
Current Lending Changes :
Purchase / Remortgage
- Up to 60 % Loan to Value
- Maximum loan of £360k
- Property Value up to £600k
- No Valuation or Admin Fees
- Purchase and Remortgage
- England and Wales
Mortgage Holiday
https://www.kentreliance.co.uk/coronavirus-covid-19-faqs#c72a6013-2bd9-6312-8b0f-ff0000de2d98
Current Lending Changes :
Purchases
- Residential – Nothing above 80% LTV
- Buy to Let – Nothing above 70% LTV
- Not accepting Holiday Lets or HMO applications
Mortgage Holiday
https://www.leedsbuildingsociety.co.uk/mortgages/mortgage-payment-holiday/
Current Lending Changes :
Purchases
- Residential – Nothing above 80% LTV
- Buy to Let – Nothing above 65% LTV
- Not accepting Holiday Let applications
Mortgage Holiday
https://www.mansfieldbs.co.uk/support-for-mortgage-customers/
Current Lending Changes :
Mortgage Holiday
https://www.mansfieldbs.co.uk/support-for-mortgage-customers/
Current Lending Changes :
Mortgage Holiday
https://bank.marksandspencer.com/information/coronavirus/#cav-3-1
Current Lending Changes
Mortgage Holiday
Current Lending Changes :
Purchases
- Nothing above 60% LTV for standard residential
- Not accepting Self Build, Buy to Let, Help to Buy, Shared Ownership or any other new build applications
Mortgage Holiday
MBS Lending – https://www.mbslending.co.uk/existing_customers/difficulties-paying-mortgage
The Melton – https://www.themelton.co.uk/coronavirus-covid-19/
Current Lending Changes :
Purchases
- Nothing above 80% LTV
Mortgage Holiday
Current Lending Changes :
Purchases / Remortgages
- Now increased to 85% Loan to Value for Purchases and Remortgages
- Introduction of Larger Loans products (£300k+)
- Interest only and Part/ part only available via Intermediaires
Mortgage Holiday
https://www.nationwide.co.uk/support/coronavirus/mortgage-payment-holiday
Current Lending Changes :
Purchases
- Nothing above 80% LTV
Mortgage Holiday
http://www.intermediary.natwest.com/intermediary-solutions/Coronavirus_updates.html
Current Lending Changes :
Purchases
- Nothing above 60% LTV
- Not accepting Self Build, Holiday Lets or Bridging loan applications
Mortgage Holiday
https://www.newbury.co.uk/mortgages/problems-mortgage-payments/
Current Lending Changes :
Purchases
- Nothing above 80% LTV
Mortgage Holiday
https://www.newcastle.co.uk/about-us/society-news/a-message-from-our-ceo-andrew-haigh/
Current Lending Changes :
Purchases
- Residential – Nothing above 70% LTV (for AVM only)
- Buy to Let – Nothing above 65% LTV (for AVM only)
- Will still accept cases above these LTVs but will pause until physical valuation can be carried out
Mortgage Holiday
https://www.thenottingham-intermediaries.com/coronavirus-support/
Current Lending Changes :
Purchases
- Nothing above 75% LTV
Mortgage Holiday
Current Lending Changes :
- Nothing above 75% LTV
- No products where a physical valuation is required
- Not accepting New Build, Buy to Let, Help to Buy or Residential Tracker Mortgage applications
Current Lending Changes :
Purchases
- Nothing above 60% LTV
- Maximum property value of £600,00
Mortgage Holiday
https://s3-eu-west-1.amazonaws.com/pdf.precisemortgages.co.uk/02744_covid-19_customer_faqs.pdf
Current Lending Changes :
Purchases
- Nothing above 80% LTV
- Not accepting New Build, Help to Buy, Shared Ownership or Shared equity applications
Mortgage Holiday
https://www.principality.co.uk/en/coronavirus/mortgage-payment-relief
Current Lending Changes :
Purchases
- Nothing above 75% LTV
Maximum loan £350,000 - Not accepting New Build, Shared Ownership Right to Buy or Help to Buy applications
- Now accepting electronic signatures
Mortgage Holiday
https://mortgagesignup.santander.co.uk/onlinecredential/mortgage-holiday
Current Lending Changes :
Mortgage Holiday
https://www.saffronbs.co.uk/mortgages/existing-customers/coronavirus-mortgage-information/
Current Lending Changes :
Purchases
- Nothing above 60% LTV
Mortgage Holiday
Current Lending Changes :
Purchases
- Nothing above 75% LTV
- Not accepting New Build, Shared Ownership, Flats over 6 storeys, Cladding, Studio flats or properties with more than 6 bedrooms
Mortgage Holiday
Current Lending Changes :
Purchases
- Not accepting new residential purchase applications
- Buy to Let – Nothing above 75% LTV
Mortgage Holiday
Current Lending Changes :
Purchases
- Residential – Nothing above 90% LTV
- Not accepting New Build flats or Shared Ownership applications
Mortgage Holiday
Current Lending Changes :
Purchases
- Nothing above 80% LTV
- Not accepting HMO applications
Mortgage Holiday
Current Lending Changes :
Purchases
- Residential – Nothing above 75% LTV
- Buy to Let – Nothing above 60% LTV
- Additional Mortgage Offer Extension guidance provided
Remortgages
- Residential – Up to 80% LTV
- Buy to Let – Nothing above 60% LTV
Mortgage Holiday
https://www2.tsb.co.uk/mortgages/existing-customers/flexible-features/#Mortgage_payment_holidays
Current Lending Changes :
Mortgage Holiday
https://www.vidahomeloans.co.uk/customers/request-payment-holiday
Current Lending Changes :
Mortgage Holiday
Current Lender Changes :
Purchases
- Nothing above 60% LTV (2 purchase products available)
- Will allow to go to valuation stage, and then pause until valuation can proceed
Mortgage Holiday
Latest Changes
Santander
- Launch of HTB Products from 1/5/2020
Kensington
- Reintroduced 75% Loan to Value Rates.
- Withdrawal of BTL Purchases
TSB
- New products and slight rate reductions on loan LTV products
Halifax
- Some product changes, rate reductions and increases across the LTV’s
Coventry BS
- Re-introducing 75% Loan to Value products for Residential and BTL Remortgages
HSBC
- Reduced Fixed Rates across Range from 30th April
Barclays
- Increased Purchase & Remortgages to 80% Loan to Value.
- Removed Cap on daily lending
Kent Reliance
- Back lending!
- Up to 60 % Loan to Value
- Maximum loan of £360k
- Property Value up to £600k
- No Valuation or Admin Fees
- Purchase and Remortgage
- England and Wales
Nationwide BS
- Increase to 85% Loan to Value on New Mortgages (Purchase and Remortgages)
- Small Rate Reductions at lower Loan to Value. New products launched
- New Cheaper Products for over £300k Mortgages
HSBC
- Maximum of 90% Loan to Value on Residential
- Removed Buy to Let Mortgages
Mortgage Issues?
If your lender is not listed or you require further assistance, please get in touch. Most lenders are providing a Mortgage or Payment Holiday for up to 3 months on all types of mortgages.
Remortgage Due?
Even with a Mortgage Holiday we can help customers with their upcoming Remortgage or Product Transfer needs – schedule a call or get in touch to discuss your options, free of charge.
Customers reviews
Contact Us
Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.
Registered address: Suite 1, 8 Kingsdale Business Centre, Chelmsford, Essex, CM1 1PE
Registered in England & Wales under number 10607263.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).
There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.
There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.
We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman.
Our advice is covered under the Financial Ombudsman Service.