Coronavirus and Ocean Mortgages
The Ocean Mortgages team are now all working from home, and have full access to all the lenders and protection companies on the market.
With the Corona virus having made millions of us stay at home with our families, we have noticed a huge increase in enquiries.
As people have been forced to stay at home, many have been carrying out tasks that in a busy working day there is rarely time to consider. Added to this the genuine fears around reduced income, many have started to look at their bills to reduce their monthly outgoings.
As the largest Direct Debt that most people under the age of 55 have is their mortgage, it is logical that this is the starting point for many. Around 40% of people with a mortgage are paying their lenders Standard Variable Rate. This means that they could be paying much more than they need to every month.
At Ocean, we offer a free search for every client to establish if we could move them to a lower rate. Simply email or call us to ask for this service. We will tell you what rate you could move to and can arrange for it to happen, often in just a few days.
Our enquiries from over 55s have also increased dramatically. As Equity Release rates have reduced to their lowest ever and the flexibility of products has developed, people are becoming increasingly interested in finding out more.
We have produced a brochure, and several videos to answer the questions about Equity Release the most common questions people have.
If you would prefer to speak to us or email us a question, why not give us a call.
The final area we have noticed an increase of enquiries is Protection. With the awful news of deaths, serious illness and people being made redundant, the number of Life cover, Critical illness and Income Protection enquiries have rocketed.
If you have any personal questions on this, please contact us.
The Virus will undoubtedly affect al our lives for many weeks, if not months to come. If you would like our advice on any of the topics mentioned above, please do not hesitate to get in touch for your personal review.