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The information contained within was correct at the time of publication but is subject to change.

We hope that you and your families are all keeping safe throughout lockdown.

Mortgages4Plymouth have been as busy as ever helping our new and existing clients with a whole variety of different things. We’ve been talking to you, to make sure you have the support you need, when you need it. Our team have been looking after your remortgages, house purchases, protecting you and your families in the event of the unforeseen happening and just simply chatting to you to help you work out what you are looking to do next.

There are a few questions in relation to how the market has changed that we have been asked a few times so we thought that you may benefit from seeing them.

Q) Why have lenders withdrawn mortgages for buyers with a 5% deposit and when do we expect this to be back?


Lenders withdrawing these mortgages is due to a variety of reasons linked to Covid-19.

The main reason is that there has been a prolonged period where valuers were unable to physically inspect properties. On mortgages where the mortgage is lower in proportion to the value of the property, lenders are unable to proceed without a physical valuation. With lower deposits they need to more accurately assess the value of the property to process the application.

With regards to when these will be available again, we have no fixed dates yet from lenders, however signs over the last couple of weeks have been really positive and we will be sure to let everyone know as soon as we can. Lenders as of today are currently prioritizing their back log of existing applications and valuations before re introducing these mortgages. Some 10% deposit mortgages are available. After a full personal review of your circumstances, we can advise if these products will be suitable or available to you.

Q) There have been rumours that the government are considering a ‘stamp duty holiday’ to kick start the property market, have you any further information on this?


We have heard nothing from any official sources on this, just a few rumours in the media, but if we hear anything, we will get the full information out as soon as we can.

Q) I have taken out a ‘payment holiday’ on my mortgage, what does this mean?


Due to Covid-19 borrowers have been able to apply for a payment holiday for up to 3 months without impacting their credit score. During the agreed payment holiday you do not have to make your regular mortgage payments, these payments are instead added to your mortgage balance. Then at the end of your mortgage holiday your mortgage payment is reassessed to include the amount that has been added. You must seek approval from your lender to do this. This is a useful tool if your finances have been temporarily impacted due to Covid-19, however with any borrowing that is being secured on your home, you should take careful consideration before you proceed. Your home may be repossessed if you do not keep up with repayments on your mortgage.

Q) Are buy to let mortgages still available?


Yes, buy to let mortgages are still available. Due to these mortgages generally being of a loan to value of 75% or lower, they are currently in a similar position to what they were prior to the pandemic. Please ask us for advice which will be personalized to your circumstances.

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Owner Tricia Kennedy is an award winning advisor, with excellent knowledge, having worked in the industry for 40 years. Her expertise is to help clients, who are struggling to get a mortgage due to adverse circumstances as well as helping many of you onto the property ladder. At the heart of what she does, Tricia is passionate about protecting families and businesses in the event of death/ill health. Just look at the warm reviews Tricia's clients leave her on the 'What our clients say' page!


Anne-Marie is a joint business owner with Tricia and has over 30 years experience in the mortgage industry. Anne-Marie runs the office and also liaises with the mortgage companies to ensure your mortgage is offered as promptly as possible. You will likely hear from Anne-Marie after your mortgage has been submitted and is a friendly voice at the end of the phone.


Fran is part of the management team at Mortgages4Plymouth. Fran works with Anne-Marie and Tricia to ensure that all workload is managed promptly, to make sure our clients are getting the very best service possible. Fran is a mortgage and protection adviser specialising in first time buyers. She is there to hold your hand throughout every step of the process to ensure that things run as smoothly as possible.


Adam is a CeMAP qualified advisor who studied business economics at university and has worked at Mortgages4Plymouth ever since he graduated. Adam has superb knowledge of placing mortgages to the most appropriate lender and works closely with clients to achieve this. Adam has extensive knowledge of our protection products, he relishes putting these products into bespoke packages to meet his clients needs. Just look at the fantastic reviews his clients leave him on the 'What our clients say' page!


Becky is one of our mortgage and protection administrators. Becky has a wealth of experience in this industry, having started her career working in law firm dealing with mortgages. She has progressed her career and works here at Mortgages4Plymouth assisting our advisers in managing their applications. Becky is always on hand to help with any queries and loves to help clients at every step of the process.


Sonia is our office manager and is the first face that you will see when you come into Mortgages4Plymouth. Sonia ensures that our clients get to see an advisor as soon as possible as she manages the office diary and also keeps in touch whilst we are getting ready to submit your mortgage application.


Oliver is a qualified protection advisor, who's drive to protect others stems from his own personal experiences. Oliver is a compassionate advisor who understands the needs of his clients and wants to ensure that they are fully protected.


Emma is one of our office administrators and works very closely with our clients and our advisors to ensure that applications are submitted and managed promptly. Emma is super efficient and ensures that clients are receiving regular updates throughout their application journey.


Jenny is a mortgage and protection administrator here at Mortgages4Plymouth and knows our business and clients very well having worked here since 2015. She is great at liaising with clients and our advisers in getting their application submitted and beyond!


Finally, Colby is our very special four-legged team member! Colby is a French bulldog and she loves meeting our clients in person! She is partial to a belly rub and a hi-five.