It has been reported that major lenders such as Nationwide, Halifax, Virgin and Santander are now able to put resources into new lending and have made it easier to qualify for mortgage products.
A number of lenders diverted their resources into dealing with the thousands of requests for mortgage payment holidays in order for families to mitigate the costs impact of the COVID19 pandemic but now it appears that lenders are able to turn their attention back to providing new lending.
The BBC has reported that:
- Nationwide and Halifax are now offering mortgages with an 85% loan-to-value;
- Santander increased its maximum loan size to £500,000; and
- Virgin Money have resumed offering purchase mortgages again.
It is also reported that NHS workers are receiving priority. This hasn’t as yet been confirmed by the lenders but if you are an NHS worker and are looking to remortgage or move home, it would be worth checking with your broker to see if you can be prioritised.
Further, we at Hewitts are committed to recognising the fantastic work that all the front line emergency services staff undertake and we have extended the Blue Light Discount to so that members of the Police, NHS and Fire & Rescue services are entitled to 10% off our legal fees for residential conveyancing sales, purchases and remortgages where we are instructed directly.
Online quotes can be obtained from our website www.hewitts.co.uk or alternatively you can call us on 01388 604 691 and ask to speak to one of our lawyers who would be more than happy to help where we can with any query.