However, these are unprecedented times and the government is taking unprecedented action. It is likely that if completion is not possible due to the current situation, parties will be able to agree to extend the completion date or cancel the contract without penalty.
Overall, the UK housing market is facing significant challenges in the wake of the coronavirus pandemic. While the government’s actions may provide some relief to banks and homeowners, the long-term impact on the market remains to be seen.
Conclusion
As the pandemic continues to unfold, it is important for individuals and businesses alike to stay informed and adapt to the rapidly changing landscape. The UK housing market is just one example of an industry that has been dramatically affected by the crisis, and it is likely that we will see more changes and challenges in the weeks and months to come.