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The Impact of COVID-19 on the Real Estate Market

Photo Credit : Walls Street Journal

This time last year, the world shut down. Do you remember? Everyone’s plan was literally on a halt, and the world was in a panic. An article published by introduced the Coronavirus mortgage relief for homeowners, where Chancellor Rishi Sunak publicly announced that UK mortgage lenders would be offered a three-month mortgage payment holiday to those struggling to pay.

The COVID-19 crisis significantly impacted the real estate market this spring. Health concerns and stay-at-home orders led to fewer buyers looking for homes and fewer sellers willing to list their properties or allow strangers to enter their homes during a pandemic. 

Countries like the United Kingdom and the United States mobilized to fight the coronavirus crisis, and many homeowners felt a sense of uncertainty amid the economic fallout. According to Forbes, benchmark rate cuts by Federal Reserve and falling mortgage rates sent homeowners flocking to their lenders to take advantage of the low rates. Moreover, last year February, Home sales rose but not at the same pace as refinances. 

Have you heard of Mortgage Calculator Uk? This automated website tool allows home buyers or refinances buyers to determine their mortgage calculation they need to consider. The website was created to cater to the UK market and other mortgage markets. 

You can use the calculator to do the following : 

  • home buyers to estimate mortgage affordability based on income 
  • printable amortisation schedules,
  •  loan overpayments, and 
  • remortgage. 

 In terms of convenience, the website is free and easy to access.  First-time homebuyers can use the website to estimate their monthly mortgage payment before starting their mortgage application. You can input a different home price, down payment, loan term, and interest rate to see how your monthly payment changes. Even though we are still on lockdown, that should not stop you from purchasing that dream home. The pandemic has already taken a lot from us; try out the Mortgage Calculator UK.


Written by Hope James

Photo // Wall Street Journal

Hope James is the creator of Minnafropolis, a fashion and lifestyle platform. Over the years, Hope has honed her skills as a content creator, influencer, and blogger. She is passionate about teaching women how to maximize their wardrobe, improving our lifestyles, and female entrepreneurship. Hope holds certifications in Digital Marketing and Social Media Management. She also completed her Master's in Business Administration and Project Management. Hope currently welcomes every collaborative opportunity that presents itself and looks forward to working on future projects in varying capacities. If you appreciate quality content over quantity or need to reach a new audience, build a brand affinity through authentic content and partnership contact Minnafropolis, email:



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