Demand lending to home-buyers was nearly back to normal by September but the future of the housing market is ‘uncertain’ when the stamp duty holiday ends in March 2021, lenders have said. House purchase lending recovered strongly in the third quarter of 2020 after the property market was put on pause earlier in the year, according to UK Finance. In its Household Finance Review, the trade association found that, by September, activity was almost back to the levels seen a year ago. The huge downwards spike shows when mortgage lending collapsed during the first lockdown, but then shot back up over summer and is now nearly back to normal levels House purchase activity is likely to be strong in the first quarter of 2021 as households seek to take advantage of lending support such as the current stamp duty holiday before it closes at the end of March, it said. However, beyond that point demand is likely to come under pressure, it added. RELATED ARTICLES Previous 1 Next Is it still worth investing in buy-to-let? Manchester ranked… Stamp duty stampede fuels housing boom: Prices rise at… Share this article Share UK Finance also said further demand from households for support… Read full this story
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