Coronavirus and your mortgage application
Coronavirus is having a significant impact on people buying a new home and those remortgaging.
We are working hard to support you at this time, minimising where we can any disruption caused by coronavirus to your mortgage journey.
Buying a new home?
There are two areas impacting those buying their first home or moving to a new home.
Getting a professional valuation
Almost every new mortgage requires a valuation to confirm both the market value and condition of the property involved. Due to the lockdown requirements, physical inspections by valuers have been put on hold.
We are working on other ways to review properties while protecting thehealth and safety of our valuation partners. This means it will take longer to complete the valuation and move your application to the next stage. Please bear with us.
Exchanging contracts
The majority of solicitors can continue their work from home however; some key legal elements of the mortgage process are on hold.
Guidance from UK Finance and the Law Society of NI for purchase transactions states that unless you are already in contract to complete a purchase, you should not proceed. So if you are due to move house in the next few weeks, your solicitor may not be able to complete the legal transaction.
If you are impacted by this you should discuss with your solicitor in the first instance. If you need more time to complete on your purchase, your solicitor can contact us and we will look to support you with an extension to your current mortgage offer.
Remortgaging to us?
Our remortgage offer uses McKees Solicitors to complete the legal process of moving from another lender to ourselves. They too are working remotely and we have agreed some exceptional arrangements to support in moving your mortgage to us. This could mean the process takes a little longer than usual– if you have any questions about your remortgage you can contact either McKees or ourselves to discuss.
If you are moving home or remortgaging to us, and need to contact us, please call our Mortgage Completion Support Team on 0345 605 5831.
Changing your mortgage product with us?
There are no delays if you are moving from one Danske Bank mortgage product to another Danske Bank mortgage product.
Leaving Danske Bank for another lender?
As with customers moving their mortgage to us, there may be legal delays in moving from us to another lender. In the first instance you should contact your new lender or your broker to understand any impact. If you are going to be with us for longer than expected, we’ll continue to offer you all our customer support options.
If you are moving on to higher repayments as your deal comes to an end, contact us to discuss moving on to another product which could reduce your repayments.
If you are financially impacted by coronavirus, please get in touch and we can discuss the options available including a mortgage payment holiday. Find out more about Mortgage Payment Holidays.
