2020-11-05
During these uncertain and challenging time, here at SortRefer, we understand the knock-on effect, that Covid-19 has had on the house moving Industry.
We have set out to provide you with as much information as possible, referring you to key links and guides that will give you validation on the knowledge you may or may not know already.
Can We Move Home During the National Lockdown?
Your clients are free to move home during the Second National Lockdown. However, you may want to inform them that the process of searching for and moving into a new home is going to be different, as property agents, conveyancers and other professionals have modified how they work to reduce the risk of infection.
Conveyancers can stay open for business and can take on new instructions. However, it is important that you ensure your clients are aware of the differences in completing transactions.
We can help you with this!
Below we have listed relevant links for you to share with clients. These links provide information on all the current Lockdown measures in place until the 2nd of December 2020 (In England). Rules and regulations are different across all three parts of the UK.
Wales - https://gov.wales/moving-home-during-coronavirus-pandemic
Will the Stamp Duty Holiday Be Affected?
The sheer volume of cases coupled with the impact of Covid–19 has put real pressure on the house moving industry, which has resulted in delays for Surveys, Mortgage Offers, Searches and Conveyancing, meaning transactions are now taking much longer.
And although all our suppliers are working around the clock to ensure your purchase case can be completed before the end of March Stamp Duty holiday deadline, they cannot guarantee completion of your purchase by this date.
Here at SortRefer, we ask that you please take this into consideration when instructing your client’s case, because they may have to find additional funds to pay the Stamp Duty Land Tax bill if it completes after the 31st March 2021.
Here is the full information on the Stamp Duty guidelines across the different parts of the UK.
England - https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates
Wales - https://gov.wales/land-transaction-tax-rates-and-bands
Scotland - https://www.revenue.scot/land-buildings-transaction-tax/nil-rate-band
Please note again, that all rules and regulations are different across all three parts of the UK, please see the useful links above for additional information.
Delayed Searches
Currently, with the rest of the industry, there will be delays with on-going and upcoming searches due to the current lockdown restrictions and the sheer volume of purchase cases going through the industry now.
Please note: these delays differ geographically from council to council, so please ensure your customers are aware of the delays that could happen as part of the process.
Our team, as always are here for you!
For further information, questions or queries get in touch and we will be happy to help.
