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When will housing market reopen?

5 replies

blissful201 · 12/04/2020 23:17

I know it's early days but there have been various talks about exit strategies / targeted or phased lifting of restrictions to get the economy going. Do you think the housing market will be among the first activities to be allowed to go back to work, with all appropriate social distancing measures?
I think it's far easier to maintain social distancing than schools and shops. However the mortgage market was shut down after the banks lobbied the government to close due to personnel issues (no wfh for mortgage processing staff)
Just wonder when we can get moving???

OP posts:
Wrinklesareenhancing · 13/04/2020 09:35

Hang on, just buffing off my crystal ball. Bear with.

Loofah01 · 13/04/2020 09:59

Depends on when they remove lockdown really. The estate agents will want to get moving about a second after the measures are lifted...

Tulipvase · 13/04/2020 10:04

We’ve just had a mortgage approved in the last week. It was started prior to the shut down but we were due to have a valuation in the first week of the shutdown which obviously didn’t happen.

They then decided that mortgages with a LTV of 75% or less could have a desktop valuation.

But all this means is that the clock has started ticking on the mortgage offer.....

blissful201 · 13/04/2020 13:27

Agree it all depends when lockdown ends but it will not happen for all at the same time, hence my question of whether housing market will be among the first ones to see restrictions lifted

OP posts:
mumsy27 · 14/04/2020 02:34

sooner than you think...the government very worried and making sure wheel of economy mustn't stop.
2-3 months Max.

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