Sector needs to work together to manage volume of work

Jonathan Sealey, CEO at specialist lender Hope Capital, said: “There has been a significant drop in the level of residential transactions in both April and May, which was to be expected following the frenzy of activity we saw up until the end of March.

“Having said that, despite the fall in May, it was still the busiest May for transactions since 2014 and still way above pre-pandemic levels.

“A certain amount of cooling off and a return to less frantic levels of activity is likely to be welcomed by some quarters of the sector. However, we anticipate June will produce a further increase as homebuyers push to get over the line before the extended SDLT holiday deadline.

“But, as we hopefully reach the end of lockdown, it’s important that the sector works together to get through the volume of work, and that brokers explore all options for funding such as specialist finance, in order to deliver on the deal.”

Published: 22 June 2021