The mortgage market has seen some of its biggest challenges since 2009 but it seems to have been better equipped to deal with it this time around. Lenders have been quick to protect their clients (mortgage payment holidays) whilst, at the same time, keeping the system moving through their lending.
Down South, the reopening of the housing market has been positively received, with the number of property sales rising by 137% in the last four weeks. This is only 12% below pre corona crisis levels in early March. This has been matched with the number of people contacting agents rising daily, with Rightmove seeing its ten busiest ever days in May and June. This gives us hope that, as the market reopens in Scotland ,we will follow suit.
People will still want to move, they still desire a bigger garden or to own their own place and lockdown has not taken their aspirations away. The opposite in fact.
Rates look set to remain for the rest of the year and throughout 2021.
If any of the above is of interest to you and you would like to discuss your mortgage further, you can arrange to meet online with one of our financial advisers by scheduling an online meeting here >>
