Securing a mortgage in the age of Covid-19

There has been a significant increase in the number of purchase completions in the residential market, but in the new climate many are still finding it tricky to get mortgage approval

19th July, 2020
Securing a mortgage in the age of Covid-19
Two main factors are heavily influencing the lending market at the moment: exceptions and the impact of the Temporary Wage Subsidy Scheme

Despite fears that the mortgage market would grind to a halt after we entered lockdown, transactions continued – albeit at a lower level, with approvals down by 62 per cent in May.

June told a different story, however, and mortgage lenders and service providers have experienced a substantial increase in enquiries, approvals and drawdowns.

So far, the month of July has seen a large uplift in completions for purchasers and also mortgage-switchers who were savvy enough...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Zoning and green belts: the lesson we can learn from four decades ago

Families put a premium on suburban living

Organisations join forces for conference on climate action and sustainability

Hugh Wallace: We must all be champions of Ireland’s great rural revival