During the pandemic people learned to be as patient as possible. It was understanding with lockdowns that anything that would take time and processing the wait was going to be longer. Home buyers were especially in need of patience as well as homeowners looking to remortgage. The mortgage lending market, which is full of detailed work and collection of information, was slowed by the pandemic and resulting restrictions.

The pandemic impact is still evident and no one is quite sure at whether the near future will see things moving closer to normal or require embracing a new normal due to covid variants that are making an appearance in communities.

It is the longer time periods for processes that are to be taken into consideration by homeowners looking to remortgage and home buyers seeking a mortgage. It can matter when there are factors at play that could be important such as the final stamp duty holiday deadline on 30 September or if rising inflation could cause an increase in interest rates during an upcoming Monetary Policy Committee meeting.

While the pandemic impact has slowed down processes and patience became important, now another push is making things take even longer to complete. Demand is causing slowdowns on being able to get final approval on a remortgage or mortgage. 

The housing market is seeing an amazing surge from buyers and home movers. Month after month the housing market has proved resilient and stronger than anyone could have predicted. This is putting a demand also on the businesses that help support the housing market such as agent offices, mortgage lenders, and even services such as movers and painters.

The housing market is surging and the result is an overflow of demand in complementary or associated businesses. That is a good thing for an economy hard hit and still dealing with the global pandemic. If it requires a bit of patience from homeowners when remortgaging or home buyers with mortgaging then so be it. It requires only that one plan far ahead if there are matters critical to remortgaging or buying. 

Shop sooner rather than later for a new deal or a property, and then when the best offer is discovered take action to make the most of the opportunities in a time when slow is the fastest one can expect to move forward.