COVID 19 update from Buckingham James Financial Services

We hope you’re keeping well, staying safe and adjusting to the new ‘normal’.

The UK landscape for us all is changing rapidly so we just wanted to give you an update and confirm the extra steps that we are taking during these unprecedented times.

Government guidelines are urging buyers and sellers to delay moving, physical valuations and removals have largely stopped, and the Land Registry offices in some parts of the UK are closed or only processing a limited number of cases.

However, there are still many mortgage, remortgage and rate switch and transfer options available – albeit that some are currently restricted more than previously.  Many lenders are introducing revised ranges of products each day with a more streamlined process to help us all in these challenging times.

We have seen a huge increase already in the amount of Life Cover, Income Protection and Critical Illness Cover enquiries and applications over the past few weeks.  Now, more than ever, is a sensible time to ensure that you have the correct level and type of cover in place.  Please contact us immediately to discuss your requirements via life@buckinghamjames.co.uk  or 0333 987 4087.

As some of you will already know, we are able to communicate effectively via email, WhatsApp, Skype, FaceTime, Zoom and good old fashioned telephone so we can help you, our clients, address your needs from the comfort of your own home.

We’re still here 

From the start of last week, a much more widely spread out but perfectly formed team of advisers, administrators and brokers across our whole network have been holding the fort and are available to contact on 0333 987 4087 and hello@buckinghamjames.co.uk  plus you can speak directly with your own dedicated Buckingham James contact.

Buckingham James service that you have come to expect may not be entirely upwardly mobile for the time being, our support team is still on hand to help with any queries you may have on existing or new applications.

As you can imagine, our telephone lines are extremely busy during this time and we would really appreciate it if you could contact us, in the first instance, on hello@buckinghamjames.co.uk where possible. Thank you for your understanding and patience as we navigate through the Covid-19 outbreak together.

What happens next

We’ll keep providing updates for you as soon as we have them.

If you’ve got an existing application being processed, please bear with us as we try to process things as quickly as possible.  With lenders and insurance companies as well as solicitors firms all either working with a reduced staffing level or remotely, we hope you can appreciate the unavoidable delays being encountered.  In addition, our staff have been working into the evening and over weekends in a bid to ease pressure and delays.

We’re also creating a hub of additional resources

If you or your family has a question around COVID-19, visit these links below and keep your eyes peeled for extra help as the situation changes. We’re also always listening on social media, where we’ll be sharing useful guidance and support as well as ‘Sharing The Love’ and hoping to keep you and ourselves smiling.  Visit us @buckjames on Twitter and Instagram.

Here is some general guidance that has been published, that may be helpful:

Government advice: https://www.gov.uk/coronavirus

FCA Information for Consumers: https://www.fca.org.uk/consumers/coronavirus-covid-19

FCA Information for Firms: https://www.fca.org.uk/firms/information-firms-coronavirus-covid-19-response

Mortgage Payment Holidays:

The Chancellor recently promised to implement payment holidays of up to three months for those who are struggling to pay their mortgage and this is now being implemented by mortgage lenders. The mortgage payment holiday will provide flexibility in repaying your mortgage by allowing you to stop or reduce your monthly payments for up to three months. This won’t be suitable for everyone but could provide much needed help if you need it, but this won’t be free money. Clients should speak to their Mortgage Adviser about the suitability of this option and how to apply.

Ban on evictions & additional protections for renters during crisis: https://www.gov.uk/government/news/complete-ban-on-evictions-and-additional-protection-for-renters

Information on scams linked to crisis:

There may be an increase in scams during the crisis. We encourage extra vigilance at this time and further information can be found via the following links.

https://www.bbc.co.uk/news/uk-51964507

https://www.which.co.uk/news/2020/03/coronavirus-scam-lookout-for-fake-lockdown-fine-texts/

Thank you, stay safe and Share The Love.

From all of us at Buckingham James Financial Services.

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