Mortgage Advice Bureau has launched a dedicated mortgage information support service to help homeowners worried about their finances as a result of the coronavirus outbreak.

The free support service, a helpline available to homeowners nationwide, has been set up to answer queries about paying mortgages, and to guide people back to financial security.

Mortgage Advice Bureau highlighted the Government’s announcement this week of a mortgage payment holiday of up to three months for those worst hit financially by the coronavirus, but added this may not be homeowners’ only worry regarding monthly finances.

Mortgage Advice Bureau head of lending, Brian Murphy, commented: “We are living in unprecedented times and some homeowners are rightly worried about their finances. With a mortgage typically being a homeowner’s largest outgoing, monthly mortgage payments are naturally going to be homeowners’ biggest concern.

“The helpline is managed by fully qualified mortgage advisers who can provide guidance about what to do if repaying a mortgage is a worry during the coronavirus outbreak. As the situation changes in the UK and across the globe, it’s difficult for people to foresee how their monthly income will be affected, particularly for homeowners on short-term, temporary or zero-hours contracts.  

“We hope that the helpline will allow homeowners to talk openly and get them back on track with their finances.”

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