The UK may close the market...for housing

Author: Adam Button | Category: News

Banks considering calling a halt to home purchases

The UK finance industry body says it's struggling to operate the mechanics of home sales during the virus and is in talks with the government about whether to stop home purchases, according to the FT.

The industry is also seeking to extend the length of time borrowers have to complete a transaction after receiving a mortgage offer, in order to stop transactions that are already in motion from falling apart, according to two people briefed on the discussions.

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