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Stuck on the wrong rung of the ladder

Being confined within your four walls is hard for anyone. But for those who are finding their walls are too small, too damp or too expensive, it can be excruciating.

Unfortunately they have little room for manoeuvre at the moment. The property market has been put on ice. Buyers and sellers are being told not to go ahead with deals unless unless they have already exchanged contracts in order to slow the spread of coronavirus.

Banks are withdrawing hundreds of mortgage deals, valuers aren't able to visit properties to do vital inspections and house prices are starting to sink. We've been contacted by hundreds of people anxious about having to make one of the most important financial decisions of their lives among all this uncertainty.

One Telegraph reader and former cancer victim risks losing his new home – and the 36,000 deposit he paid for it – as he is having to self-isolate and unable to go in person to transfer the funds.

If you haven't yet bought a first home, things are even more precarious. First-time buyers could be barred from the property ladder completely, as banks are withdrawing mortgages for buyers with small deposits.

Those who are still renting – or have children who are – will be rightly concerned by the Government's decision to water down its plans to protect those in rented accommodation from being evicted during the lockdown. It had originally promised a complete ban on evictions during the pandemic but instead has decided to extend the notice period required for evictions from two months to three.

Whether you're a buyer, seller or renter, we are here to help with any problem you may be facing. Some of your questions may have already been answered in our online Q&A about what coronavirus means for the property market. If they haven't, email us at money@telegraph.co.uk.

We also have advice for renters and homeowners on how to manage their bills and living costs at this time, and even how they can earn some extra money while stuck at home.

If you are worried and need further help or advice, you can always find more on Telegraph Money. Subscribe now and try your first month for free.

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In our comments section, R Morely said of Entrepreneurs bemoan gaps in Rishi Sunak's relief plan: "I find it astonishing that so many self-employed are moaning abut not being able to last until June for government support. By definition their income stream is not as stable as a salaried employee and so it would seem to me that if they had any common sense at all they would have kept some earnings aside for the proverbial rainy day."

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