March 26, 2020 / 6:22 PM / 5 days ago

UK government puts housing market on ice over coronavirus concerns- FT

March 26 (Reuters) - The UK government has told home buyers and sellers to delay transactions due to the coronavirus outbreak, stalling the housing market, according to a report by the Financial Times.

The move came after talks between ministers and lenders, with banks wanting a full suspension of the market over coronavirus impact worries and concerns about granting credit, the report said.

It added that bankers told ministers that surveying properties had become difficult in the current situation.

UK Finance, the banking industry body, wrote to lenders seeking “urgent clarification” over the future of the market.

When contacted by Reuters, UK Finance declined to comment.

Reporting by Juby Babu in Bengaluru; Editing by Ramakrishnan M.

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