Don’t delay if you want to save money on your move

Posted on Monday, September 28, 2020

The legendary American author Mark Twain famously said this about procrastination: ‘Never put off till tomorrow which may be done the day after tomorrow.’

And while it might be a useful mantra when doing something mundane like mowing the lawn or some DIY, it doesn’t apply to the housing market right now.

The national lockdown and subsequent localised ones are causing delays in the home moving process. If you are thinking of moving and making the most of the Stamp Duty holiday which could see you save up to £15,000, you’ll need to get going very soon.

The Sunday Times recently published an article that said October 12 was the deadline for people to put their homes up for sale if they wanted to complete the transaction before the tax holiday ends on 31 March 2021.

It also reported that there were longer than usual delays when getting mortgage valuations, property surveys, local authority searches and having conveyancing work carried out. These are all essential components of most property transactions.

Its sentiments were echoed by the property law website – Today’s Conveyancer – which said: “Pre-Covid-19 the time it took (from the marketing of the property) to find a buyer was, on average, 79 days, and the total time from listing to moving into a property was 187.

October 12 is just two weeks away so you need to act now if you want to beat the backlog and move while the financial incentives are in place.

Conveyancer also published some tips, including those below, to help you speed up the process if you are thinking of selling or buying a new home.

1)     The seller should instruct their conveyancer on listing the property for sale. Talk to us about Propertymark’s Sales Protocol.

2)     Ask their conveyancer to review the property information forms and title and to identify any issues which might impact a sale.

3)     The buyer should obtain a mortgage decision in principle ahead of putting an offer forward.

4)     The buyer should instruct a conveyancer prior to making an offer.

The full article is well worth a read and can be found via this link: https://tinyurl.com/y59k254r

So, it’s crystal clear, if you want to move before the 31 March deadline you need to act now to give yourself the best chance.

We’d love to be able to help you achieve this and make the most of the busy market we’re experiencing in the Bracknell area. Give us a call on 01344 860121 to discuss how we can help you beat the delays and get moving.


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