The UK property market proved to be resilient during the global pandemic and the biggest impact that had been witnessed was a sudden drop in enquiries – during the initial lockdown. It appeared to affect a particular section of the housing market, with a decline in queries from international buyers (unwilling to travel internationally) and the luxury properties in central London. However, the UK government came to rescue the star performer of the country by introducing a stamp duty holiday, which helped the market bounce back.
After these measures and the uplifting of the ban on international traveling, a considerable increase in the number of queries was noticed. Another notable factor is that the majority of property sales transactions in the UK property market are mortgage-based. And to cater to the needs of mortgage-based property buyers, one of the UK’s biggest lenders has unveiled a huge offer.