Tuesday June 2, 2020

Mortgage and bank measures provide respite – at a price

If you’re buying or selling a home, or looking to reduce mortgage repayments, be sure to consider the downside of Covid-19 mitigation measures

29th March, 2020
Banks and mortgage lenders are taking a variety of measures to assist people impacted by the coronavirus. Picture: Getty

Banks and mortgage lenders are taking a variety of measures to mitigate the effects of the coronavirus on people’s plans to buy a home, or on those who will suffer financial hardships in terms of their mortgage repayments, including buy-to-let landlords.

Property owners with existing mortgages, however, need to carefully consider the cost implications of taking a mortgage break – because it will come at a price. Some people are under the impression...

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