How to Get on the Property Ladder Post-Lockdown

Are you looking to buy your first home? Maybe it’s time you moved out of mum and dad’s to find your own space. Or perhaps a job requires you to relocate permanently to a new city or town. No matter your reason for starting this journey, you might be apprehensive about how Covid-19 has affected your chances of securing the home you want.

What does the UK property market look like? Can I expect to save or pay more for my house? What will the process of looking for a home and securing a mortgage include? These may be some of the questions buzzing around your head at the moment.

Here at CW Estate Agents, we know people are stressing and worrying over their future. As we enter a post-lockdown world, we must adapt to the new ways we carry out previously normal activities. This ranges from simply popping to Tesco or heading to work and buying a home.

For the best advice on what to expect, take some of these suggestions into account:

Impact of the Pandemic

The Bank of England and the Office of Budget Responsibility has predicted the UK could fall into its deepest recession for 300 years. This depreciation is guaranteed to have an impact on the UK property market. But not in the way you would expect as average house prices are up by 7.4% in total.

A boom in the property market when it reopened has seen prices continue to surge. This is due to pent up demand, a desire for more space and rural living, low mortgage rates, and the ever-popular stamp duty holiday. Since demand has risen, fewer properties have become available, meaning there are no signs of house price deflation for the immediate future.

Uncertain Mortgages

Before Covid-19, first-time buyers could secure 95% mortgages, allowing them to purchase their first home with a smaller deposit. It was a preferable mortgage as it meant they could buy a home after saving for a shorter period. However, the impact of Covid-19 on the UK housing market has seen many banks withdraw their 95% mortgage options, with only a few offering 90% mortgages and most offering 85% mortgages or above. So if you are a first-time buyer, you need to carefully consider all the options available to you at this current time. 

The economy is expected to bounce back to pre-Covid-19 levels by the end of this year. So do you wait until 2022 for 95% mortgage options to potentially come back? Or do you look at your savings and consider offering more as a deposit to secure your home now? Maybe you need to save for a few more years so you have more money to play with. This is a personal decision you need to make based on the average asking price of a home with the size you wish to buy.

Selling to Buy?

Perhaps you’re not only looking to buy a home but instead, sell your current property as well. At CW Estate Agents, we understand the fears of property owners who want to sell their homes to finance their next move. Covid-19 doesn’t have to prevent you from doing this. With the expert advice and guidance of our property valuers and estate agents across the UK, we can provide you with an incredibly personal and supportive service you are sure to find extremely useful!

Our services also guarantee you feel much more involved in the whole process from start to finish. We pride ourselves on listing properties at the fairest price to give you the best deal possible. Furthermore, our expert knowledge of the CW area will ensure that we assist you every step of the way in finding your dream home without the risk of hidden fees!

Want to find out about schools, amenities and a great location to bring your kids up in? Or what about a quiet rural area with a close-knit community? Then we will help you find exactly that!

We will set up viewings, ensuring that you’re as involved in the buying process as you desire. By keeping you up-to-date and at the forefront, you can have complete confidence that you’re being kept in the loop. We always have your best interests at heart, no matter what they are.

To learn more about the selling services available to you, please call the CW Estate Agents team on 07743 532615 or email us at to see how we can help you find your perfect home, all with the bonus of office space that greatly supports your productivity!

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