During the effective ‘lock down’ for the UK, which has been almost two months, a temporary halt was put to many industries, one of those being the housing market, including the ability to move home, unless it was unavoidable.
Following the latest Government announcement, physical property viewings and mortgage valuations are now possible, once online resources have been considered. Any viewing or valuation must be carried out following the strict social distance guidelines.
All this means Estate Agencies can look to reopen and start viewings and property listings. Solicitors can start to complete property purchase chains and lenders can consider their lending criteria and progress the current applications they have to valuation or offer. Its estimated there are 450,000 buyers and renters with plans on hold and it will take all parties time to work through the back log.
The Government have also opened up the construction industry, again, following strict guidance. The announcement confirmed that builders could apply to work up to 9pm in residential areas, Monday to Saturday and longer in non-residential areas. Restarting new builds will fuel the market for new and onward purchases, including the help to buy scheme.
Learn more about the help to buy scheme in our video below
Our team at Clever Mortgages have been working from the home since the lockdown started and we now have a small number of staff located in the office, following social distancing guidelines.
We have always made telephone mortgage advice a success, if you have any queries please feel free to contact us, we would love to help with your house move or remortgage. You can read more about us on our website or on Trustpilot.