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A little bit of thread resurrection, but it may still be useful.
Our 5 Year fixed deal with YBS expires the end of July, YBS allow you to reserve a new deal 120 days before your current deal expires(I'm guessing other lenders are similar). We opted to stay with YBS as we didn't want the hassle of moving provider and going through the whole application process.
We selected our new deal online on the 8th April, letter arrived today 7 business days later, mortgage approved.
Tango130-
Oddly had a similar outcome.
Wrote to Clydesdale asking in passing about the terms of a payment holiday - not actually requesting one, just asking how much and when we would have to pay back. They wrote back eventually saying that the payment holiday had been approved and reimbursing our April payment (without really telling us how much we're due to pay or when).
We also wrote to them separately about changing product when current term comes to an end. Had offer through today. Precisely zero checks and seemingly no issue with the payment holiday (for now). Looked into a few other lenders and brokers and all suggested there would be stringent checks. New deal is cheaper (by a fiver) than the old. Main concern was getting an offer at all given the drop in income in the past few years so all in all pretty happy.
33 mortgage years on the wall, 33 mortgage years. One fell off and paid 1.4%, 32 mortgage years...
CYOA
Our two-year fixed runs out at the end of June I think. L&C (our broker for first-time buyer fun back in 2018) has been in touch to get a new deal. We're self-employed and affordability was a big struggle last time as turnover was good but most things were allowable expenses so our profit appeared minimal. Getting corona'd in a big way at the moment work-wise so looking at a holiday. If we take them up on the current offer, are the lender obliged to overlook it?
On the other hand, when they do their affordability checks if they deem we can't afford to continue (even though we could, even, at a pinch, with coronafun) what is the actual outcome? Do they just up the interest rate so high that you have no choice but to default?