Society of Mortgage Professionals reacts to government plan to restart housing market
Publication date:
13 May 2020
Last updated:
25 February 2025
Author(s):
Personal Finance Society, Society of Mortgage Professionals
In response to today's plan to restart the housing market set out by the Housing Secretary, David Thomas, Chair of the Society of Mortgage Professionals, said: “Comments from the Housing Secretary on the reopening of the housing market are particularly welcome for mortgage brokers at this time. Three areas of the market, closed almost overnight in late March, are now to be seemingly simultaneously eased."
“Estate agents and developers are to be able to enable viewings of property, whilst valuers are now exploring ways to restart the valuation process, a key area for mortgage activity to progress. Whilst the further lender development of desktop valuations was very welcome during this period, physical valuations for the higher loan-to- value cases should see positive forward momentum.
“The third area of house completions should now also move forward, freeing those inflated mortgage pipelines, and giving buyers their new property at long last.
“All of this will take time to restart, but this is a hugely positive set of announcements in a short space of time.”
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.
