Long term Property Market

[RichyB 0]

Hi all,

Boris said earlier today he expects the Covid-19 Pandemic to last around 12 weeks.

I understand it’s early days yet but what (if any) effect do you think it will have on the property sell market? I’m in the process of purchasing a property to move into, renovate over a period of 12-18 months and then sell on.

Also I’m purchasing through a 2Year fixed rate mortgage. The application was submitted the day before the BBR fell to 0.25%. Is it worth re-applying/seeing what (cheaper?) products are now available or will lenders be more restrictive of who they lend to?

 

Thanks in advance for any advice!

Rich