Posted on October 27, 2020 by DIY Doctor It appears that the housing market is generating mixed signals making it extremely difficult to understand what is happening to anyone who is not an expert, but simply wants to buy or sell a property. They are reporting access to record prices especially in some areas that are under tighter controls to prevent Covid-19, and they say the demand is so great that it has been reported that up to 200,000 people may lose stamp duties due to system delays, which means that people Unable to complete their transactions before the stamp duty holiday ends on March 31, 2021, on the other hand, buyers have the smallest option for mortgage deals since 2010. According to Moneyfacts, there are just over 2,200 deals available now, down from nearly 5,000 available in October last year, this could reduce options for anyone who is self-employed, contract worker, or any other income bracket that doesn’t fit into the category of mortgage offer. Even if homebuyers can find a mortgage deal, home prices agreed between buyers and sellers are undercut by surveyors who value the properties much less – this is the valuation that the mortgage company uses in its calculations. By the stamp duty holiday, and the understandable desire of people to move to larger and less urban properties as a result of “ working from home ” to combat the Coronavirus instructions from the government, where restrictions are more stringent, the demand appears to be higher, especially if there is a scenic area nearby To move to it, like many parts of South Wales. We feel these are relatively short-term factors, and they probably won’t last long after the stamp duty holiday and the bleak economic forecasts for next year, and in the long term, lenders seem to be “ pulling the trailhead, ” to limit mortgage deals available to ensure that their risks are their own. Limited in the event of deflation. The practice of “property devaluation”: where surveyors value the property at less than the agreed purchase price, means that the lenders will require a larger deposit to reduce its risk. They basically believe that the price agreed upon between the buyer and seller is more than the real value of the property, so this difference is not insured on the property. This indicates that most lenders believe that current rates are in “bubble” territory, and there have been no such mixed signals since the last financial crisis. Many people move for non-financial reasons, to gain a better living space given our changing work environments, but the long-term outlook may seem to be turbulent.