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Finding the right words at a time like this is far from easy. We face a period of huge uncertainty, economic turbulence, and very real anxiety about the health of our friends, colleagues and families. As coronavirus spreads, the world as we know it is changing day by day.
At Articus Finance, we’ve always been a global and outward-looking company, working with individuals and businesses around the world. Now, borders are closing down – and large chunks of the economy risk grinding to a halt.
So we won’t say it’s business as usual. What we will say – as communities and organisations across the world are discovering – is that life must go on. Work must go on, too. At Articus, we’re in the fortunate position of being able to deliver our usual exceptional service remotely, over phone and video call. All with the aim of keeping our clients, our colleagues, and our industry network as safe as possible.
Our commitment to our clients and the community during the crisis
Our team has been in close conversation over the last week, working out exactly what we can do to best serve our clients and the wider community during this time.
For our existing clients, we will continue to operate – not as usual – but with the same four core standards we have always worked by: bespoke service; specialist knowledge; industry relationships; and transparency and trust. Like everyone at the moment, we don’t know what’s going to happen. But we do know we can do our jobs just as well from our own homes as we can from our office in the City.
If you need us, we’re at the end of the phone. Whether it’s advice about mortgage delays, or a chat about the short-term loan options for your business – our advice is free, sincere, and available to you whenever you need it. It’s always been our job to be the bridge between you and your mortgage lender, and that’s just as true now as it ever was.
We also know we’re in a great position to help people at this time. Even those who aren’t our existing clients. We aren’t medical experts (and we certainly don’t want to add to all the online noise around the virus). But we do understand property and mortgages – and during this period of economic uncertainty, many people’s minds are on their finances. From homeowners to investors and business owners.
So, we want to reiterate that the skills and knowledge we have at our disposal are available to you, as you need them, in the coming weeks. If you’re worried, give us a call. Where we can help, advise, or point you in the right direction – we will.
Keeping you updated
We’ll also strive to keep you updated (and we certainly understand that browsing the news constantly can be anxiety inducing, so we’ll try and keep this brief and to-the-point).
The economic situation is changing day by day. We recently published a blog referencing the interest rate cut – and in the few days since, another interest rate cut has already taken place. With every government briefing, we see new measures being put in place to support citizens during this difficult time. At present, these include:
- The Bank of England has cut the interest rate has been cut to 0.1%, an unprecedented move which puts the UK interest rate the lowest it has ever been
- Mortgage borrowers in financial difficulty from coronavirus will be eligible for a three-month mortgage holiday
- A package of £330 billion of loans will be made available to businesses, a figure which could grow if required
- The level of interest-free business interruption loans will be increased to £5 million, with no interest due for the first six month
- Shops, pubs, theatres, entertainment venues and restaurants – along with other hospitality and leisure businesses – will receive a 12-month business rate holiday
- Businesses with a rateable value of less than £51,000 will be eligible for a cash grant of up to £25,000
At the time of writing (following the government briefing on the 19th March), the Prime Minister has pledged that the government will stand by businesses. Johnson expressed his belief that the ‘tide could be turned’ within 12 weeks, following widespread social distancing and new testing measures. Finally, Johnson also denied rumours of an imminent ‘London lockdown’, stating that he expects travel to remain open.
We’re with you
We’re living through a strange, stressful time. We wish everyone good ongoing health and a speedy recovery for those affected, along with our sincere condolences for those who have lost loved ones.
As we all know, the situation is changing day by day – and nobody knows what’s going to happen next. Once again, the team at Articus are here to support as needed, advise as required, and continue with our commitment to our global clientele.
Antonio Michael, CEO of Articus Finance
