Speaking on Mortgage Solutions Television Douglas Cochrane, head of housing development at Lloyds Banking Group, said while there would not be a slowdown in development, the effect of first-time buyer restrictions and regional caps will become apparent as the year progresses.
He said there would be a “concerted effort” to complete properties for those who would not meet the incoming restrictions before the 31 March 2021 deadline.
Cochrane added: “I think what we’ll start to see is an emphasis on those purchasers to ensure their property is ready for the end date.
“We all know of the problems with the Beast from the East and how that impacted on building plans and I don’t think builders want to take any chances that there may be some overhang at the end of March .”
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