We’re here to support you – COVID-19 FAQs

Read our FAQs relating to COVID-19

On this page, you’ll find information, relating to coronavirus, to help you and your clients. If you would like to get in touch with our team, please contact your local BDM in the first instance.

If your customer needs ongoing support with their mortgage, please advise them to visit our Coronavirus Support Information page and complete our Budget Planner.

For more information on how we’re supporting you and your clients through COVID-19, please see our Frequently Asked Questions below.

New applications

What mortgage applications are you currently accepting?

We are accepting:

  • Residential purchase applications up to 90% LTV (95% LTV for first time buyers in Wales only – not available on new build properties, flats or maisonettes)
  • Remortgage applications up to 85% LTV
  • Buy to Let and Holiday Let applications up to 75% LTV

How will you assess income for furloughed customers?

We will assess mortgage applications by only using the income that is currently being received by the applicant. We will also require written confirmation directly from the applicant’s employer confirming the date they will return to work, and whether their contractual arrangements will change.

Mortgage payment support

My customer has been directly affected by COVID-19 and requires support with their payments. What options are available for them?

If your customer needs ongoing support with their mortgage payments please advise them to complete our Budget Planner online to ensure we can put the most appropriate solution in place for their individual needs.

If they need immediate assistance and their payment is due within the next 5 days, please advise them to call us on 0330 333 4020.

 

Will my customer's home be repossessed if they are struggling after the end of their mortgage payment holiday?

As a mutual, Member-owned organisation we want to help people stay in their homes for as long as possible and will do everything we can to help Members and customers who are facing financial difficulty. We understand this is a challenging time and there is likely to be great uncertainty for some of our Members who have taken a mortgage payment holiday now that the scheme has ended.

We want our Members to feel secure and will encourage them to be open with us in discussing their concerns and difficulties, so we can help them and tailor options according to their individual needs.

Is ongoing support reported in my customer's Credit Score?

Yes. Unlike Mortgage Payment Holidays, any ongoing support maybe reported to credit reference agencies, and can adversely affect your customer's credit rating, which may affect their ability to obtain credit in the future. We are required to do this to give other lenders an accurate picture of your customer's financial circumstances.

In progress applications

What measures have been put in place when valuing a property?

Before a valuation is booked, the surveyor will complete an initial assessment with the occupier to determine whether it is safe for the physical valuation to be carried out. Access arrangements will be predetermined to ensure maximum safety for both the surveyor and the occupier.

Vacant properties:

  • New Build - Connells will work with the HBF and RICS to develop protocols for valuation inspections on-site
  • Second hand sales - there will be a risk assessed key collection or attended access

Occupied properties:

To minimise risk the following protocols will be followed for valuers attending occupied properties.

  • Internal doors will be opened pre-inspection
  • Loft hatches and ladder access will be facilitated pre-inspection

Product Transfers

What is the process for product transfers and additional loans?

If you have a customer whose current deal is coming to an end and wants to transfer to a new product, they are able to proceed as normal. View our range of product transfer products.