As lockdown restrictions ease and people want to take advantage of the stamp duty holiday, we are seeing more activity in the housing market. However, there is still a lot of uncertainty, particularly over mortgage availability. On the one hand, interest rates are at an all-time low. On the other, lenders have reduced the number and range of mortgages they offer. If you are thinking about moving home or remortgaging, you may be wondering how this could affect you.
Here Philip Taylor, Head of Residential Conveyancing with Pearsons & Ward in Malton, cuts through the confusion and answers some of your questions.
As a first-time buyer, will I still be able to get a mortgage?
Since the pandemic, lenders have generally become more cautious and risk-averse. Most have now withdrawn their low deposit mortgage deals from…