Debbie Boyes, Director at Willowlace Ltd says “We have seen First Time Buyers fuel the housing market for around 10 years, but we are starting to see a shift to existing Homeowners moving home.”
“With the Covid 19 Pandemic and more people working from home and spending less time on holiday and socialising with friends, the size of the home is becoming ever more important, I think we may be seeing a paradigm shift towards homeowners moving, seeking just that – more space. This, exacerbated by the UK mortgage lenders heading for the hills on high Loan to Value mortgages (the stalwart of the First Time Buyer), indicates that the market is shifting to older buyers with more equity.”
Debbie continues “With the basic rules of Supply and Demand balancing the incredibly high demand for properties this will, hopefully, keep house price inflation under control.”
“Despite the current high demand for mortgage finance, and lenders being far more cautious in their underwriting we are still finding great finance for our Clients – in their own Race To Space!”
