The Mortgage Charter

🔔 Update for MortgageHolders! 📢

Attention all mortgage holders! There’s been an important announcement that could help people facing financial difficulty with their mortgage renewal.

Introducing the Mortgage Charter, a new initiative designed to provide new flexibilities for managing mortgage payments.

32 esteemed lenders have joined the Mortgage Charter, signifying their commitment to supporting borrowers. This collaboration offers a range of beneficial options to consider for your mortgage. 💼🔒

Key highlights of the Mortgage Charter include:

1️⃣ Enhanced Protection: Effective from 26 June, borrowers will not be subject to forced eviction without consent within a year of missing a payment, except in exceptional circumstances. Ensuring your home security remains a top priority. 🏡🔐

2️⃣ Extended Deal Lock-In: Starting from 10 July, you will have the opportunity to secure a new mortgage deal up to six months in advance, providing the ability to plan ahead. Most lenders already offered this but the list has now grown. 💼⏰

3️⃣ Improved Deal Management: The Mortgage Charter enables you to manage your new deal and request better terms from your lender until your new term commences. This empowers you to explore the most suitable options available and a competent adviser can help to keep an eye on things. 💰🔄

4️⃣ Financial Relief Options: For borrowers who are up to date with their payments, the Mortgage Charter allows for the flexibility to switch to interest-only payments for six months or extend the mortgage term to reduce monthly payments. Reverting to the original term is also possible within six months by contacting your lender. 💡💸

These options can be pursued without the need for a new affordability check or affecting credit scores. The Mortgage Charter aims to streamline processes and offer greater peace of mind to borrowers.

If you have any questions or require further assistance, please feel free to reach out. Let's embrace that the powers that be are now at least trying to help mortgage holders and work towards a brighter future! 💪🌞 #MortgageCharter