It has been a most unusual year in every respect. The Covid-19 pandemic has affected just about every aspect of our lives from our social life to our professional life. During these unprecedented times, questions about our mortgages inevitable surface. Many with mortgage approval or those seeking to apply for a mortgage likely have a few questions regarding their mortgage and how it’s been affected by Covid-19.
The Golden Pages have teamed up with Citywide Financial Solutions, to answer some of your most pressing mortgage related questions.
Citywide Financial Solutions
Citywide Financial Solutions is one of Dublin’s oldest and most established financial brokers. As a Dublin based mortgage brokers and financial advisors, they offer expert advice on all aspects of a client’s financial health.
Citywide Financial Solutions extensive range of services include mortgage protection advice, pensions, life cover, family protection and income protection. Need a life cover broker in Dublin? Call Citywide Financial Solutions today.
How will my current Mortgage approval be affected by Covid-19?
Your mortgage approval, or approval in principle, will not be affected by Covid-19, however, the next two steps to receiving your mortgage, e.g. the formal letter of approval and the mortgage drawdown may be impacted by the pandemic. To move through these steps it’s likely you’ll need to confirm that your financial situation has not changed since you got your “approval in principle.”
Can I extend my mortgage approval?
This depends on the lender. If your financial circumstances have not changed since the start of the pandemic, a lender may consider extending.
However, if your financial has changed, the lender may very well keep the approval available for the agreed amount of time before requesting evidence on your current financial circumstances.
Will there be a delay in drawing down my mortgage?
If you have provided all documentation requested by the lender there shouldn’t be any delay.
I haven’t applied for a mortgage yet. Can I still get mortgage approval
Yes, you can. Lenders are offering approval in principal during the Covid-19 pandemic. Most lenders have made it known that as usual, mortgage approval will be assessed on a case by case basis.
Do you have a few more questions regarding mortgages and the Covid-19 pandemic? We urge you to get in contact with Citywide Financial Solutions today.
| Address | 238 Swords Road, Santry, Dublin 9, |
| Telephone Numbers | (01) 513 8710 |
| Website | www.citywidefinancial.ie |