Banks not lending, how about my situation?

markyyyyyy

I am nearly about to exchange and complete on my house sale and house purchase - i've heard that banks are not lending anymore for mortgages?
Am i right in saying that because I have had a mortgage offer, and its all been approved, that my house sale and purchase will continue as per normal?
Thanks

AdrianC

Only your lender and solicitor can give you an answer you can actually rely on.

AngelEyes91

I spoke to my mortgage advisor yesterday who assured me not to worry about this since I already have an offer that is valid until February 2021 so you should be fine!

Bossypants

So far I've only heard of Barclays putting the breaks on, better to check with your bank or broker to know your specific situation.

hazyjo

Bossypants said:

So far I've only heard of Barclays putting the breaks on, better to check with your bank or broker to know your specific situation.

Someone on here said Halifax was doing the same now. I expect others will follow.

Thrugelmir

Announcements only impact new applications. Not those already in progress or where offers have been made. Likewise product switches with the existing lender are still unrestricted. 

Thrugelmir

markyyyyyy said:

I am nearly about to exchange and complete on my house sale and house purchase - i've heard that banks are not lending anymore for mortgages?

Lenders are focussing their efforts on supporting those applying for financial assistance. Like other organisation they'll be suffering from staff absenteeism.