Francesca Carlesi, Co-founder and CEO of Molo Finance

“The stamp duty extension back in March was a responsible move by the Government. Not only did it allow many house-buyers to breathe a sigh of relief, but it also enabled market resilience and contributed to growing the UK economy. However, now that the stamp duty holiday has come to an end, initial signs are mixed, with price drops and price rises both being reported. 

“No one could have predicted the consequences that the pandemic would have on the mortgage and housing markets. However, despite being in the midst of great uncertainty, at Molo we saw high demand across the first half of 2021, with the average loan amount increasing by 59% compared to the end of 2020. The rush to buy during the stamp duty holiday gave the industry a much needed boost, but this peak in activity was never going to be a sustainable one. As the stamp duty holiday comes to an end, the temporary decline in activity is no surprise. As for the rest of this year, I'm expecting activity to pick up, house prices to stabilise, and by the end of 2021 the market will be in a healthy, more sustainable position.”