As the chancellor unveils £330bn in support for those affected by the Corona Virus we ask, what does that support actually look like? Not knowing where to look or who to speak to for advice can confuse the issue further. Here we have listed some of the support available:
Bank contact details, web support pages, charity support, employers and small business information. We will continue to add as information becomes available. We have also included a “mortgage” message from our Trusted Partner, TMA, who are willing to help with advice on all things mortgages.
3 Pillars Financial Planning are here to help in any way we can during this difficult period so please do not hesitate to contact us. We work alongside professionals from all sectors therefore we can always direct you to appropriate people if we can.
To all our clients and those that are not, we are here to support.
“The difference between what we do and what we are capable of doing would suffice to solve most of the world's problems”.
Call the HMRC Coronavirus helpline.
HMRC Coronavirus Helpline
Telephone: 0800 015 9559
Monday to Friday, 8am to 8pm
Saturday, 8am to 4pm
3 MONTH BREAK for BUY - TO -LET
EMPLOYEES, EMPLOYERS, BUSINESS - Guidance
Mortgage Payment Holidays available
RBS - 0345 301 6910
NatWest - 0345 303 0191
Halifax - 0345 850 3705
Lloyds - 0800 783 3534
TSB - 0345 835 3380
Principality - 0330 838 7581
Virgin Money - 0345 602 8301
Clydesdale - 0800 121 4203
Nationwide - 0800 464 30 30
Skipton - 0345 850 1766
Newcastle BS - 0345 702 3083
Metro - 0345 319 1200
Coventry - 0800 121 8899
Accord - 0800 138 2403
Deferred or reduced payments:
•HSBC - 0345 587 3471
Santander - 0800 015 6382
Reviewing Individual circumstances:
•Skipton - 0345 850 1711
Yorkshire BS - 0345 1200 200
No clear guidance yet:
•Barclays – 0800 022 4022
Furness - 0800 220 568
Phone numbers do appear to be changing regularly - so please check lender websites and if you get any personal experience of speaking to your mortgage lender
Bank of Scotland Coronavirus (Covid-19) – Supporting Small businesses
HSBC coronavirus help FAQ’s
RBS people affected by the coronavirus outbreak to defer mortgage and loan repayments for up to three months.
Halifax Coronavirus help and support
Leeds Building Society
Newcastle Building Scoiety
Scottish Building Society
Turn2us is a national charity helping people when times get tough. They provide financial support to help people get back on track. www.turn2us.org.uk
Mypickle.org have published a collaborative list of all the coronavirus help and support that's out there for individuals, families, businesses and anyone self-isolating.
Covid-19 support for businesses https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
Employees and self-employed people https://www.gov.uk/government/news/coronavirus-support-for-employees-benefit-claimants-and-businesses
Corona virus is impacting on our lives in so many ways and the financial implications this has for people is overwhelming. In a world where only over a week ago many people were going through life without any impact this has now all changed.
We have seen the economy change so much every day and each day brings more job losses and reductions in income that no one could predict. As a Mortgage & Protection firm we are helping clients understand the implication of this in relation to their mortgage.
People are now facing difficulties they never could imagine such as how they will you put food on the table and pay their mortgage. These worries are on top of the stress of the health implication of obtaining the virus or passing this onto vulnerable people.
You will have seen the government announcement which confirmed mortgage lenders would allow people to take 3 months mortgage payment holidays to help in the financial crisis.
We have been in touch with each lender to ascertain how customers can contact them and also to obtain further information on what this means in terms of their credit report in the future. Below is a list of contact numbers for mortgage providers
Lenders have advised that they are currently working on how they will help customers and have asked that any customers who are facing financial difficulty should contact them direct and their teams will discuss your situation and how best they can help you.
Almost all lenders have noted that this will not negatively impact your credit file but we urge customers to ask for clarity on this aspect as the implication of a damaged credit report can cause issues in the future for both new purchases or re-mortgaging as well as obtaining other forms of credit.
There are ways in which you can look to save money, the main one being to ensure you review your current mortgage. If you are currently on the Standard Variable Rate this could be 4.24% and you could save £££ if you re-mortgage.
As this is a rapidly changing landscape we will endeavour to keep you up-to-date with any changes.
Trusted Mortgage Advice Ltd Enquiries@tmauk.co.uk
3 Pillars Financial Planning is a trading style of Protect What Matters Ltd.
Protect What Matters Ltd is an appointed representative of Trusted Mortgage Advice Limited which is authorised and regulated by the Financial Conduct Authority.
Protect What Matters Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 843972
Country of registration: Scotland, Registration No: SC603816. Registered address: 242 Baberton Mains Drive, Edinburgh, EH14 3EA.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK
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