Industry Insights – Self-Build boosted by new interest in home offices

by Craig Middleton, Mortgage Sales & Distribution Manager, Harpenden Building Society

As we continue to navigate through the current pandemic many aspects of life are changing as the ‘new normal’ is embraced. But what is the new normal? Working from home is one example and has created a whole set of opportunities for the mortgage industry.

Self Build – renewed interest
Despite home viewings grinding to a halt for a time and the traditional mortgage market slowing during the height of the pandemic, some surprising areas of the market have surged. At Harpenden Building Society we’ve seen an unprecedented increase in self-build mortgage enquiries particularly relating to the development of home offices.

Any glance at the news over the past few months has featured headlines about the workforce adapting and embracing a culture of home working. A recent commentary I read from Savills estate agents stated: “according to research carried out by Lloyds Bank, two in five workers say that when looking for a new home, suitable work space is a factor.

 

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