Research shows that 10% of the UK’s population report having a house purchase or sale impacted by the effects of Covid-19 and the Government-mandated lockdowns. This group has not been recognised or received any support.
Through no fault of their own, thousands of people have been left in life changing situations with large financial losses and / or a huge impact on quality of life and mental health. Many, left at the hands of unscrupulous sellers and advisers, are faced with the prospect of having unpayable debts hanging over them despite not completing the process they were in.
The Government must acknowledge that they forced the housing market to break earlier this year and do something that allows those affected to rescue their situations.
At the very least the Government must protect the innocent parties, acting in good faith, that have been impacted. This can be achieved through a legally mandatory “Covid Clause” to be in place for as long as the pandemic lasts, and to be applied retrospectively to the start of the first lockdown in March 2020.