COVID-19- Buying or Selling Your Home

  • Author: Dean Skinner
  • Posted on: 8th January 2020
  • Posted in: Blog

What does the Covid-19 crisis mean for house sales or purchases?

For many UK homeowners, there has been a lot of confusion about how the buying and selling process works whilst the country is on lockdown during the Coronavirus crisis. Many people will already be at different stages of the conveyancing process wondering what to do next, and there is concern about the financial implications of a prospective sale or purchase potentially falling through.

With so much uncertainty at this time, it is important to understand how to get the most reliable and up-to-date information on the situation, and will help avoid any pitfalls of being exposed to 'fake news' as this can often lead to us to make ill-informed decisions. 

So what is the current guidance?

There has been talk of the government putting purchases on hold for the foreseeable future, and a delay to house moves. However, this recent article in the Mirror mentions that:

 "In new guidance, the Government said it was urging buyers and sellers to "adapt and be flexible" by agreeing new dates while the country is in lockdown." Source: (https://www.mirror.co.uk/money/coronavirus-housing-market-suspended-government-21765337)

With the current state of affairs, it makes sense to continually re-assess your position with any sale or purchase, and keep up-to-date with what's new, and the best way to do this is firstly by following the official government guidelines:

Government advice on home movinghttps://www.gov.uk/guidance/government-advice-on-home-moving-during-the-coronavirus-covid-19-outbreak

What is the best way to stay informed of changes?

The most sensible way to get accurate information is firstly by checking back on the government website regularly to see whether anything has changed following on from any significant government announcements.

You should also make sure you are in regular contact with your solicitor, estate agent and mortgage company. These key parties will be a vital source of information to help you navigate what happens next. This will ensure you are up to speed with any changes in the situation, and it could help you to be better prepared for any sudden developments.

How we can help

We understand how worrying this time is for many of our clients, and we are more than happy to speak you to clarify your current position, as well as provide guidance on how best to prepare for your future sale or purchase transaction.

Our office is still open, and we have taken the necessary measures to ensure your safety and the safety of our staff is a priority should you need to come in and visit us. However, our staff are also able to work remotely, offering virtual video meetings, regular email correspondence and telephone calls. 

We are here to help, so please feel free to get in touch on 01273 734 600 or email advice@crosbywoods.co.uk