Thursday 9th July, 2020

Mortgages are harder to obtain presently due to the Covid-19 pandemic.  With many lenders removing 95% and 90% mortgages, for some lenders a minimum deposit of 15% is currently required thus making it even harded to get on the property ladder.  This will have a bigger impact on those areas where house prices are already very high.

Mortgage holidays taken during the Covid-19 pandenic have caused further problems for borrowers than expected.  In some instances applciants have been refused loans, or new mortgage deals and from our experience the impact of a payment holiday on unsecured credit commitments has reduced some applicants credit scores.  We would encourage our clients to maintain their commitments if they are able.