CORONAVIRUS: Mortgage companies set up service to help homeowners

The free information service from South West Mortgages and Gary Price Mortgages has been set up to answer any queries or worries people around the town may have about paying their mortgage.

Both firms are part of the Mortgage Advice Bureau national group which has launched a regularly-updated online resource of FAQs on the topic.

The bureau's head of lending Brian Murphy said: “We are living in unprecedented times and some homeowners are rightly worried about their finances. With a mortgage typically being a homeowner’s largest outgoing, monthly mortgage payments are naturally going to be homeowners’ biggest concern.

"We’ve set up the Mortgage Information Support Service to help local people through this challenging period and to offer advice to those who need it most.

“The helpline is managed by our fully qualified mortgage advisers who can provide guidance about what to do if repaying a mortgage is a worry during the coronavirus outbreak.

"As the situation changes in the UK and across the globe, it’s difficult for people to foresee how their monthly income will be affected, particularly for homeowners on short-term, temporary or zero-hours contracts.

“The government is doing its best to help people during these difficult times and we certainly take financial well-being very seriously, so we are also doing our upmost to support people.

"We hope that the helpline will allow homeowners to talk openly and get them back on track with their finances.”

The government is responding daily with new measures to minimise the impact of the coronavirus, including access to a mortgage payment holiday of up-to three months for those worst hit financially by the virus.

To speak to a qualified mortgage adviser via the support service, homeowners can call South West Mortgages on 01793 433 699 or Gary Price Mortgages on 01793 238 315. For more information, visit mortgageadvicebureau.com