The property market had enjoyed a boost thanks to the outcome of the general election in December, but now the market faces uncertainty as the Coronavirus COVID-19 pandemic continues.
Residential property prices increased for the fourth consecutive month in February as the market’s so-called “Boris bounce” pushed the average cost up to £312,625 according to Rightmove, with the property website reporting that prices are up 3.5% year-on-year. There are concerns though, that the surge could be dented by the COVID-19 outbreak which poses a risk to this growth if it has an adverse impact on buyers’ confidence.
However, lenders are confident that the property market will pick up and are still happy to lend so if you’re looking for a short term bridging loan or a long term mortgage arrangement you still have options.
For more information regarding the current lending position with the COVID-19 outbreak, or to look at Monopoly Finance bridging loans please contact our friendly and professional team.
Monopoly Finance Ltd
43 Berkeley Square
0207 101 3333