AWS Mortgages

Buying a property is taking much longer than usual thanks to Covid-19. The end of lockdown sparked a mini housing boom, created by a rush in buyers wanting more space both inside and out. Buyers are also keen to take advantage of the stamp duty holiday before it runs out at the end of March, meaning agents, lenders, brokers, surveyors and solicitors are all inundated with enquiries and business. Meanwhile, lenders still have many staff working from home, resulting in it taking longer to get everything done. Indeed, some sources claim that if you want to take advantage of the stamp duty holiday you must begin the buying and selling process by 1 November. Day-rate contractors looking for a mortgage face the same delays and issues as other borrowers – perhaps more so, as they have fewer options when it comes to getting a mortgage. Most high-street lenders do not offer contractor mortgages , where they take your day rate into account when deciding how much you can afford to borrow. A