Unsurprisingly this week has been dominated by the restrictions imposed by government to tackle the coronavirus outbreak and the resulting fallout in the market.
Lenders have been hammered by the loss of in-person valuations which has resulted in many cutting product offerings and restricting loan to values.
More practical issues such as the impact on broker communication teams and the implementation of mortgage payment holidays has also hampered many lenders.
It’s been one of the most disrupted and unsettled weeks in the mortgage market for a decade.
Barclays working on mortgage holiday solution for BTL borrowers
Mortgage payment holiday borrowers may be denied product transfers
Government slams brakes on housing market allowing only ‘critical’ moves
Lloyds Banking Group extends mortgage offers and grants 70k payment holidays
Halifax Intermediaries to relaunch higher LTV products – exclusive
