London 020 3040 4400

Coronavirus (COVID-19) Update

Springtide Capital Business Update 3rd April 2020

Recent announcements-we are here to help you make sense of the evolving market

A message from Henry Knight, Managing Director of Springtide Capital

In the current environment, where situations are changing almost daily and there is a high volume of information being published, I wanted to address some of the most talked about topics in the current mortgage market.

Payment holidays: The money you save from a payment holiday will need to be paid back at some stage during the lifetime of your mortgage and are specifically aimed at those that find themselves in financial difficulty. We encourage you to speak with one of our experienced brokers and we will help you understand the pros and cons specific to your mortgage. It is important that you understand the potential implications and all your alternative options.

Valuations: In the current climate, the way in which valuations are carried out has understandably changed significantly. There are lenders in the market who can carry out automated valuations/desktop valuations with qualification being determined through various factors within your mortgage application. Speak to your Springtide Capital broker who will be able to advise. 

Bank lending: Alongside recent announcements there are many news stories circulating and information is changing regularly. I can assure you that banks are still lending, even though they are under huge administrative pressure due to payment holiday requests significantly affecting their operational capacity. 

But there remain ways forward. As an example, this week a client buying a property in London had applied through their bank directly and the bank required a physical valuation on the property due to the property value. Their bank did not offer automated/desktop valuations at this purchase price. The applicant was referred to a Springtide broker, who managed to place their application with another lender who were able to assist and the automated valuation has already been carried out and passed.  

In these difficult times, you can be assured that our experienced brokers remain here to help you with any queries you may have.  Please feel free to call us and please feel free to share this message with any friends/family/colleagues that may also be interested in having a conversation with us.  We are here to support you.

Regards,

Henry Knight

Managing Director, Springtide Capital

London 020 3040 4400

info@springtidecapital.com

 

How we are continuing to support you 20th March 2020

A message from Henry Knight, Managing Director of Springtide Capital

As the situation surrounding Coronavirus (COVID-19) continues to change at pace, I am very much aware of the uncertainty this challenge is causing for both individuals and businesses. Please be assured that we are taking all necessary steps to make sure we are prepared as we take measures to support the people who need our services, work closely with the wider mortgage community and help keep our team safe and healthy at this challenging time.

In light of government guidelines, we have initiated home working. Our systems and processes are in place and our staff have the tools they need to be able to work effectively.  Keeping our communication channels open is a critical step to ensure that we can all manage this transition with clarity. We expect little disruption to the services we provide to our clients. Please continue to use the same telephone numbers and contact points as previously.

We continue to closely monitor the developing situation, while at the same time making sure we provide the appropriate support that is needed as we all adapt to the current circumstances.

If you have any questions relating to a new or existing mortgage, please do not hesitate to get in touch with your usual contact here at Springtide Capital and be assured that we are here to help and support you.

Regards,

Henry Knight

Managing Director, Springtide Capital

FCA
Springtide Capital Limited is authorised and regulated by the Financial Conduct Authority.

Important Legal Information
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and loan amount. The FCA does not regulate most buy-to-let, second charge or commercial mortgages. The Financial Ombudsman Service is available at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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