Remortgaging during Covid-19

Written by Alice Spencer - 22.04.20

In response to the economic impact caused by the Covid-19 pandemic, the Bank of England’s dramatic cut in interest rates to 0.1% has led many people to consider whether they are able to find a better mortgage deal, or to switch out into a different rate or product that may be more suited to their circumstances.

Whilst many of our clients have told us that they are reviewing the impact of Coronavirus measures on their finances, a number have been surprised to learn that they are able to process a remortgage whilst on lock-down. And for some, there has been never been a better time to release equity, or switch to a cheaper product.

Whilst the restrictions on movement have presented challenges with the availability of valuations surveys, and lending criteria may have changed, mortgage lenders have been adapting quickly to the new environment, and we are able to process remortgages quickly from the point of receiving the mortgage offer.

If you are reviewing your finances and considering a remortgage, we recommend speaking to a reputable mortgage broker, and requesting a Laurus Remortgage Pack.

Laurus is open for business and operating as usual. We are here to help with your remortgage, sale, and purchase needs and remove the stress out of this potentially anxious and uncertain time. We can offer proactive and professional conduct of your transaction, including video calling, to suit your requirements.

For any questions please contact Alice Spencer, a solicitor in the property department at Laurus on alice.spencer@lauruslaw.co.uk or by telephoning 020 3011 4749