Demand lending to home-buyers was nearly back to normal by September but the future of the housing market is 'uncertain' when the stamp duty holiday ends in March 2021, lenders have said. House purchase lending recovered strongly in the third quarter of 2020 after the property market was put on pause earlier in the year, according to UK Finance. In its Household Finance Review, the trade association found that, by September, activity was almost back to the levels seen a year ago. UK Finance also said further demand from households for support from lenders is anticipated to increase next year as employment and incomes come under strain. 'These will now remain in place into 2021, but, with the uncertain employment outlook, there may be further pressure on households' ability to maintain existing credit commitments.

Source: Daily Mail December 04, 2020 16:26 UTC