Head of Burnetts’ residential conveyancing team, Kathryn Hill, gives her reaction to the Government’s announcement that the property market is now back open.
Since Boris’s announcement on Sunday, I have been waiting for the Government to announce its plans for house moves, and my wait is now over. It has been confirmed that from Wednesday 13th May that the property market is back open for business, which is good news for home buyers and sellers.
We appreciate that things will be a little different, and we will be guided by the government, but with so many clients whose house moves have been frozen since the end of March, it’s good news that the rules now allow people to buy and sell property.
Our conveyancing team has been very busy moving transactions along as much as possible, to get them in the best possible position so that when the rules changed, we would be ready to get everyone moved into their new homes as soon as possible. Some of the houses that we have been dealing with have been empty, so were able to complete during lockdown, but then there were those in chains, which needed removal companies, so in many instances everything was ground to a halt.
The news that valuations will now be able to take place is also good news, as this will allow mortgage applications – that have been frozen due to the wait for surveys and valuations – to be carried out.
Our conveyancing team will continue to work from home for now, but with all of us having full IT equipment, and direct dials in our own homes, we are able to service our clients whether we are sitting in the office, or sitting at home.
There is naturally some uncertainty from the media about the property and housing market…will it bounce back? I am forever the optimist, and my view is that it will. Those desperate for more space before lockdown will no doubt (and even more so) still want more space, and those who’ve wanted to downsize will still want to downsize. And with interest rates at an all-time low (and for how long, who knows), so many people will be thinking now is the time to make their next house move, and our team is here to help. We have a wealth of experience and knowledge (and amazing IT!) to be able to assist clients with their property transactions, whether it be a sale, purchase, freehold or leasehold, transfer of equity, new build purchase or a re-mortgage.
If you do have any questions relating to your current property move or you are enquiring about the future, please do give us a call on 01228 552222 and we will be happy to offer our friendly advice.