Can I close a purchase between now and Christmas?

“Between 1-3% of purchases tend to complete within a month, depending on purchase type. So it is theoretically possible to complete on a property before Christmas, however, the odds are not in your favour,” says Emma Harvey, director of mortgages at MoneySuperMarket. “To go through smoothly will require no issues with conveyancing or the property itself, with minimal chains on either side and for a mortgage offer to be secured ASAP.”

She adds: “It is crucial to be realistic about how long a house purchase can take, or you may find yourself disappointed, or worse, looking for last minute accommodation over Christmas. Rushing into something may also leave you with regrets if you have made a quick decision on probably one of the biggest purchases in your life. If completing before Christmas is getting tight, why not give yourself a bit more breathing space and look ahead to 2021 with a new goal – New Year, New House.”

Can I get a mortage holiday?

In March, the government announced that homeowners could take a three-month mortgage payment holiday if their finances were affected by coronavirus. The deadline to apply for a mortgage payment holiday has been extended to 31 March 2021. You can find all the information you need on Money Advice Service.

Do I have to pay stamp duty?

In July, Rishi Sunak delivered a mini-budget to kickstart the UK’s economy during the coronavirus pandemic. Among his tax and spending plans, he announced a stamp duty cut on property purchases up to £500,000 which could save buyers as much as £15,000. This scheme will end in April 2021.

Can I move house in lockdown? Experts answer the big questions