Housing market to remain open during second lockdown
The mortgage and housing markets will remain open following the introduction of the latest coronavirus lockdown measures.
Housing Minister Robert Jenrick confirmed on his Twitter account that renters and homeowners will be able to move, removal firms and estate agents will be able to operate and construction work can continue.
Many of the banks and building societies have been operating with most of their staff working from home and they are getting more used to the process. During the last lockdown, many of the property valuers were not allowed to operate but at the moment they will continue to work.
Aaron Strutt, product director at Trinity Financial, says: “The mortgage lenders have made huge changes to the way they operate and to manage demand they have tightened their acceptance criteria and pulled some of their lower deposit mortgages.
“There is more pressure because borrowers want to get their purchases completed before the stamp duty holiday finishes and our brokers are doing everything possible to get mortgages agreed as promptly as possible.”
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