Martin Lewis is urging millions of people across the UK to take a few minutes and check if they are receiving all the financial support they are entitled to.
| UPDATED: 14:22, Thu, Mar 4, 2021
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Martin Lewis appeared on ITV’s This Morning earlier today, providing important updates to Britons when it comes to the Budget. While the Money Saving Expert is set to interview the Chancellor later on this evening, he was on hand to break down some of the news from yesterday’s economic event. One particularly important point which piqued the interest of many people was the new mortgage scheme being developed by the Government.
MARTIN LEWIS gave advice on mortgage repayments on This Morning today. A caller asked the Money Saving Expert for advice on how mortgage repayments should be covered, and Martin broke down how it s possible to save thousands .
As Derek explained: So I ve got a question about mortgage companies and individual tailored support and how lenders should be acting. Basically, I m being driven into a mental health crisis by my mortgage company, they re insisting that we have to return to making full mortgage payments from this month, despite us still having an ongoing salary cut of over 40 percent. We ve used the six month mortgage holiday but my pay cut started in April and is likely to carry on until June this year.
Derek went on to explain he had used up all of his savings and had asked his lender to move to an interest only arrangement until November.
.check if I can slash £1,000s off the year s mortgage repayments
For those with decent equity in their house, the historically low UK base rate means lower LTV mortgages are super-cheap right now. So everyone check right now if you’re on the best deal. Use www.mse.me/mortgagebestbuy or MoneyFacts.co.uk to benchmark if you may be able to save.
Sadly, if you’re on furlough or self-employed grant it may be more difficult right now, but otherwise use a broker who’ll be able to home in on which lenders are most likely to accept you.