We caught up with John Cummins, owner of John Cummins Mortgage Brokers, to get an update on the changes to mortgages and how you can make the most of the current mortgage rates.

Weston Mercury: It is worth reviewing your current mortgage deal now to see if you can get a lower rate. A mortgage broker can help you with this. Image: Getty ImagesIt is worth reviewing your current mortgage deal now to see if you can get a lower rate. A mortgage broker can help you with this. Image: Getty Images (Image: Archant)

Q: Can anyone take a mortgage holiday if they need to?

You can apply for a payment holiday to pause payments on a residential mortgage. They’re also available to buy-to-let landlords to allow them to help their tenants if coronavirus has affected their finances.

If you can prove your finances have been adversely affected, and you are up to date on your mortgage payments, you could be eligible.

You can apply for a mortgage holiday by contacting your bank. I’d recommend speaking to your lender first if you’re not sure it’s the right decision.

Q: Is now a good time to get a mortgage?

Weston Mercury: John Cummins Mortgage Brokers are here to help you and talk you through your options, either via phone call or face-to-face meeting once it is safe to do so. Image: Getty Images Logo: John Cummins Mortgage BrokersJohn Cummins Mortgage Brokers are here to help you and talk you through your options, either via phone call or face-to-face meeting once it is safe to do so. Image: Getty Images Logo: John Cummins Mortgage Brokers (Image: Archant)

Rates are at an all-time low, so if you’re thinking about buying your first home or moving to a new property, now may be a good time to do it.

It’s best to speak to a mortgage broker who can explain your options and find the best deal for you.

Q: If people aren’t moving or buying new, how can they take advantage of the low interest rates?

I would recommend that people review their current mortgage deal to see if they’re eligible for a lower rate whilst they’re still available. We can’t tell how long these rates will last, but it is possible that they could go up should the market pick up as lockdown restrictions are lifted.

This applies to those currently sitting on a variable interest rate. I would consider researching re-mortgaging and switching to a low fixed rate while you can.

Again, it’s worth having a conversation with a mortgage broker about this to get expert advice and the best outcome.

Q: Have the recent changes to lockdown restrictions affected the property market?

Yes, certain restrictions have now been lifted, so the property industry has managed to go back to almost business as normal.

As of Monday 18 May, house viewings and physical house valuations are possible. Anyone that can’t valuate homes online is making appointments for house viewings, provided it’s safe to do so. People and surveyors entering homes must wear PPE equipment and be careful not to touch anything.

Q: What can you do to help?

We are a team of four experienced mortgage brokers offering a personal service centred around our clients’ needs.

We provide a free initial review of your current mortgage if you want to re-mortgage to see how we can best help you.

Our out of hours service means that we are available to help you when you’re free, in the daytime, evenings and on weekends.

We have brokers from Bristol down to Bridgewater and also cover the towns in-between. We are communicating via telephone and email at the moment, but once restrictions have been lifted, we will be conducting face-to-face meetings with our clients. If you live a little further afield, we will try our best to meet you in person, but may need to speak to you over the phone if you’re too far away.

For more information visit www.mortgagebrokerwestonsupermare.co.uk or contact John:

john@jcmortgagebrokers.co.uk

Phone: 0800 2289715

Mobile: 07817 516009