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Business Update from Ocean Equity Release

Get in Touch

A Message to all of our Clients and Business Partners.

We hope you are all keeping well and safe during this difficult time.

We want to take this opportunity to get in touch and update you on how we are doing as a business.

Firstly, it is business as usual with The Ocean Mortgages team working from home. The office number is currently on divert to our mobiles and we are available, as always via our usual email addresses.

Mortgage Market Update

The Equity Release market is busier than ever, with many clients considering releasing equity from their property. Interest rates are as low as 2.60% fixed for life, we are available for your questions and the equity release lenders, desktop valuers and solicitors are now all available to complete any transaction.

The Mortgage market has slowed considerably for First Time Buyers with limited lending available. Our general advice at the moment is to wait a month until there are more products available. If you have found your dream home and cannot put your mortgage application on hold, there are still lenders on the market with great deals available.

If your current mortgage deal is coming to an end in the next six months, NOW is the time to take action. Take action before you revert to your Lenders Standard Variable Rate and end up paying much more than you should be!

Mortgage Payment Holidays

If you are currently unable to work and struggling to keep up your mortgage repayments you can request a Mortgage Holiday from your lender. All lenders have a different policy on this so I would suggest checking your lender’s website for information. So far 1.2million have been granted!

Some things to consider before applying for a payment holiday:

At the end of the holiday, your monthly payments may be recalculated and you may see an increase in your monthly payments.

The total amount of interest you pay over the term of the mortgage could increase as you are extending the term of your mortgage over a longer period.

A lot of clients have contacted us about this concerned how this will affect their credit scores. As long as you follow the guidance from your Lender, your credit score is unlikely to be affected. Now is a great time to check your credit report, we suggest using the free report available via to monitor this.


Another area we have seen an increased demand for is Life and Critical Illness Cover. This worrying time has made many people think about their protection needs.

Please contact us for a free, no-obligation Protection quote.

Refer a Friend

If you have a friend or family member who requires mortgage, protection or equity release advice, we would love to help them.

PLEASE CLICK HERE to enter their details to ‘Refer a Friend’.

How it works

1. Enter your details below and we’ll generate you a unique link which you then share with your friend.

You can either forward on the email or copy and send the link to them via social media or messaging service.

2. Your friend will then simply click the link you shared (that’s how we know it was you who referred them) & complete their details.

We respect privacy so we don’t ask you for your friend’s details, it’s up to them to click on the link & provide this.

3. Once your friend or relative’s product is complete we will then send your chosen reward within one month.

4. You can only use the unique link once, however, the great news is that you can easily create further unique links & refer more friends. Just fill out the form again and a new unique link for that new friend or relative will be generated.

If you liked this post A Message to all of our Clients and Business Partners, check out our Blog for more great mortgage tips, news & advice.

Call 01752 749656 or CONTACT US for free impartial equity release mortgage advice to help you find the best deal.

Ocean Equity Release Mortgages