Coronavirus prompts No 10 to suspend housing market
“The housing market was effectively suspended by the government last night in an unprecedented move as the sector was plunged into chaos by the coronavirus outbreak.
Banks struggling with the volume of customer inquiries, difficulties with valuations and legal uncertainty has led ministers to call on people to delay moving.
Finance has dried up with mortgage providers ceasing to offer many new home loans. They include Lloyds, which owns the Halifax and Bank of Scotland and is the largest player in the market, and Barclays.”
