Emma Harvey, director of mortgages at MoneySuperMarket, commented on the matter.

She said: “As it stands, the stamp duty holiday scheme is due to come to an end on March 31, meaning prospective homebuyers have just 20 days to find a property and apply for a mortgage in order to complete within the average 123 days it typically takes to purchase a home.

“During this second lockdown, estate agents and lenders have adapted quickly to ensure the housing market doesn’t stand still.

“Viewings are still going ahead with measures in place, while lenders are also continuing to work hard to get sales through.”

While the stamp duty holiday has undoubtedly attracted many, it has also put a strain on the property market.

With this difficult time economically, Ms Harvey drew attention to what the government could do next.

Firstly, she stated, the higher a deposit value for a property, the better position a person is likely to be in.

This is because larger deposits will bring down a loan-to-value ratio, and may provide access to lower interest rates with lenders.

For those who have been able to put away any extra money this year, putting it towards a house deposit is likely to be wise. 

But, understandably, this remains a financially volatile time for many people, as the effects of COVID-19 continue to be felt.

This is also vital to bear in mind, Ms Harvey added.

She concluded: “Should you have a change to your circumstances, including starting a new job or unexpected unemployment during the completion on a property, it is important to be honest with your lender, and inform them of what has happened, so they can provide the correct support.”