Following recent Government announcements, in respect of re-opening the Housing Market, valuers are now permitted to carry out physical inspections of properties in England where government guidelines and safety assessments can be adhered to. Thankfully, this will now mean all those mortgage applications stuck on hold with lenders, because a physical valuation was required, can now progress and hopefully move to offer and completion.
Colin, Director at Riviera Mortgages, said, “This is great news although I still expect the property market to take time to recover and I would expect that we will need at least 3 – 6 months for normal confidence to be restored. However, there are clear signs from the amount of activity recorded yesterday on Rightmove that people are still eager to sell/move, and whilst mortgage rates are at their lowest this could be a fantastic opportunity to purchase a new home.”
If you would like more information and to have a chat with one of the Riviera Mortgages team please email us here >