Government freezes housing market over coronavirus concerns

Homebuyers and sellers have told by the government to delay transactions due to the coronavirus outbreak, effectively putting the housing market on ice. The move came after talks between ministers and lenders, with banks wanting a full suspension of the market amid concerns about the impact of coronavirus and about granting credit. Bankers have also told ministers that surveying properties had become difficult in the current situation. Mortgage lenders agreed on Thursday night to extend all house purchase loan offers by three months to give borrowers more time to complete transactions.

The Daily Telegraph (27/03/2020)   Financial Times (27/03/2020)   The Times (27/03/2020)