Finding a mortgage during Coronavirus
Money Box
BBC
4.2 • 825 Ratings
🗓️ 20 May 2020
⏱️ 31 minutes
🧾️ Download transcript
Summary
Your questions on the challenges of getting and holding on to a mortgage or re-mortgage during coronavirus. How does being furloughed affect your prospects? Are some job sectors now less desirable to mortgage providers? What if pandemic-related delays in conveyancing are pushing you close to the expiry of your existing mortgage offer? Should fears of a market dip make you reconsider and sit tight where you are - or is it time to reduce your offer? Why are interest rates rising for some types of mortgages and falling for others? We hear what's happening in the mortgage and re-mortgage market from experts Jane King, independent mortgage advisor with Ash Ridge Private Finance - and from Martin Stewart, director of the independent mortgage broker, London Money. Email Money Box moneybox@bbc.co.uk
Presenter: Louise Cooper Producer: Paul Waters
Transcript
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| 0:00.0 | You're about to listen to a BBC podcast, but this is about something else you might enjoy. |
| 0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
| 0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
| 0:17.5 | With music on sounds, we offer collections and mixes for everything, from workouts to |
| 0:22.4 | helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put |
| 0:28.3 | together by people who know their stuff. So if you want some expertly curated music in your life, |
| 0:35.0 | check out BBC Sounds. |
| 0:41.3 | BBC Sounds, music, radio, podcasts. Welcome to the download of Moneybox Live, the programme about your money. |
| 0:47.3 | In the last week, coronavirus restrictions have eased in England and families have finally been allowed to move home. That's a relief to the |
| 0:55.6 | 400,000 households who had been in the process of buying somewhere new to live before it all came |
| 1:01.7 | to an abrupt halt during lockdown. However, reopening the housing market brings many problems |
| 1:09.0 | during the pandemic. What are the prospects of getting a |
| 1:12.5 | mortgage if you're one of the eight million who've been furloughed? Well, taking a mortgage holiday |
| 1:17.8 | hit your ability to remortgage in the future. And if the forecasts for the economy are so dire, |
| 1:24.5 | should you be paying less for your new home? Just a few of the many questions being asked. |
| 1:30.9 | But we want to hear from you, as ever, your questions, your experiences and your stories. |
| 1:36.9 | So please email Moneybox at BBC.co.com.uk or tweet at Moneybox. Well, with me now is 25-year-old Emma. Emma, hello. Hi. Welcome to Moneybox. |
| 1:52.2 | Thank you. Now, you and your partner have made an offer for a two-bed flat in Crawley near Gatwick. |
| 1:59.3 | What stage of the process are you at? Where are you? |
| 2:03.6 | So we had an offer accepted back in December and we've completed all the solicitors' inquiries now. |
| 2:10.5 | So we're just waiting for the contracts to be signed by the other parties and then we'll |
| 2:15.4 | hopefully be exchanging. So you're literally about to exchange contracts. |
... |
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