Grey Matters-Mortgage Studio Ltd

21/06/2022

If your mortgage fixed rate is up for renewal in the next 7 months then you may want to consider remortgaging and obtaining a mortgage offer now (on average they are valid for 6 months) so that you have the benefit of locking in rates as they stand today for when your current fixed rate ends.

It’s highly likely rates will continue to increase so speak to us if you want us to research options.

Grey Matters Mortgage Studio –
[email protected] or 01462 630622

03/03/2021

Stamp Duty Update!

Chancellor Rishi Sunak has confirmed that the stamp duty holiday will be extended until the end of June, followed by a tapered approach until the end of September.

Sunak said that "to smooth transition back to normal", the nil rate band will reduce from £500,000 to £250,000 from the end of June until the end of September, before reverting back to £125,000 from October 1st. Buyers are being urged to act now rather than wait.

Get in contact with us at Grey Matters Mortgage Studio for help with mortgage advice - 01462 630622 / [email protected]

09/07/2020

Yesterday the chancellor announced a temporary holiday on stamp duty!!!

So what does this mean?
If you are buying a property you will not be charged stamp duty for the first £500,000 of the sale.
If you are buying a property for less than £500,000 this means you will not need to pay any stamp duty.
People buying second homes and buy-to-let properties will also benefit, but will still have to pay the 3% extra duty due on the entire price.
The changes are with immediate effect and will stand until 31st March 2021.

22/05/2020

Payment holidays are officially extended for an additional 3 months, allowing you to apply until October 31st.

This is good news for many people, but again only use the facility if you really need to.

Taking 3-6 months off your mortgage may not impact your credit file, however it could affect your credit worthiness in the future.

None the less for many the choices are stark so if you need to take a break you should, alternatively talk to your lender( if you get through) about alternative options such as extending the term, switching to interest only as these may be better suited to your situation.

Stay safe everyone

28/04/2020

Has your mortgage rate expired or expiring in the next 6 months? If so, we can help, and the good news is if you’ve also taken a mortgage break you can still change your rate with your lender during this crisis.

Call us on 01462 630622 / 07950701143
[email protected]

24/03/2020

Mortgage breaks update

Many of you are no doubt starting to consider taking a 3 month a break on your mortgage payment

I would urge caution though as taking it when you don’t need the time out could mean you end up having to start repayments again at a more difficult time ie when you really are in more financial difficulty

For those who have lost jobs, have no savings then it’s a no brainer to look at this as you don’t want to damage your credit when you made need more help in the future

For those in employment and your job seems safe, be mindful that simply asking to stop to build up savings may not be the best use of this facility

Also if you take the break you may find your lender will restrict what you can do during the 3 months, some lenders are stopping rate switches, extra borrowing, term extensions so make sure if you do need to make any changes do so before taking a payment break

Please wait until you really need it

Be safe everyone

Marc, Grey Matters Mortgage Studio

23/03/2020

Payment breaks on mortgages - update 2

32 lenders have said that they will provide borrowers with a payment holiday but most require the borrower to phone the lender; some lenders have now set up dedicated telephone lines and weblinks.

Five lenders have gone over and above this: Chorley Building Society and Nationwide have provided forms that borrowers can downloand and send back, while Coventry Building Society, Ipswich and Together are allowing customers to self-certify that they have been impacted by Covid-19 with no further validation required.

35 lenders were still formulating their policy as of yesterday, so more criteria updates are expected throughout the day.

Responses from buy-to-let lenders are also being added throughout the day as these lenders decide what their policy and processes will be.

We will continue to communicate these changes to you all as we here about them, as well as any other important news in relation to mortgages

Be safe everyone

Regards

Marc
Grey Matters Mortgage Studio

22/03/2020

Hi everyone

I know we all have so much going on at the moment that a few more bits of advice could pass you by

Whilst we’re all isolating, washing hands etc there are also the economic worries to consider and for most that can seem worse than the virus

It’s so important to stay on top of your finances at any time, but now more than ever because a short term emotional decision could impact your pocket for many years to come

If you are worried about ongoing payments then you should in the first instance talk to the mortgage lender, loan/credit card provider as they are sympathetic like never before

Don’t bury your head in the sand or put off the call/ email as it could really hurt you in the pocket later on

There’s some good advice on this link from Experian so give it a read if you think you will be impacted now or in the near future with loss of income, dwindling savings etc

https://www.experian.co.uk/crm/supporting-you.html?utm_medium=crm&utm_source=ce_&utm_campaign=200321_m_content_nl_Covid1_CE_other&utm_term=article&utm_content=v4

My final thought on this post and I’ve heard this a lot over the last week is this

“ our parents or family have offered to help but I’ve never needed it before” These are not normal times we live in, you’re not asking for money to buy a car, holiday etc so don’t be too proud

We all have to pull together and we need families to be unified more than ever, so please ask for help if it’s there

Don’t stress, don’t panic just ask

I’m hopeful that in most instances an offer would be made to assist before you lose all your hair or worse

Stay mentally strong everyone, this won’t last forever

Marc and everyone at Grey Matters Mortgage Studio

We understand that the current situation with Coronavirus has left many people worried about how they’ll cope financially. We want to offer some guidance and reassurance for you and anyone concerned about ongoing changes.

18/03/2020

Mortgage Breaks - the latest!

10/01/2020

Is your family’s home protected if the unexpected happens?

Over 3 Million mortgaged households are not covered by life insurance which would spell financial catastrophe for loved ones, are you one of these homes?

We all take building insurance because we have to, we all insure our cars because we have to, yet so many of us fail to protect the most valuable thing in our world, ourselves and our families!!

Get in touch today to receive a quote - Protecting your home gives you the peace of mind in knowing your family home is safe in the event of your death/serious illness/accident and cover starts at £8 per month or 26 pence a day!!!

18/10/2019

You could save hundreds of pounds each month by switching rates and/or lender!
More than £26 billion worth of mortgage deals end this month, so don’t be left on a standard rate that costs you more.
If your mortgage rate ends soon, contact us ASAP, we can find the best deal for you.
01462 630622
[email protected]