450,000 Moves And Transactions For Homes Can Now Continue
The home moving and selling process has been able to resume from today (Wednesday 13th May), following new advice from the UK Government.
The Housing Secretary, Robert Jenrick, has announced all buyers and renters will now be able to go to house viewings and complete purchases in person, and that estate agents, conveyancers and moving firms can all immediately return to work.
In order to maintain public health, all those involved in the home buying and moving process will need to adhere to social distancing rules.
Residential property experts at leading national law firm Irwin Mitchell have lauded the news, which they say will be an important kick-start for the British economy as well as giving peace of mind to the hundreds of thousands stuck in transactions that were unable to move forward.
Expert Opinion“This is incredibly welcome news, not just for the hundreds of thousands of people whose conveyancing transactions were abruptly halted when the regulations came out - and who have been living in limbo with regard to what is often the biggest financial transaction of their lives - but also for many within the wider residential property industry who feared for their businesses’ survival or their livelihoods if the previous restrictions had remained in place much longer.
“It will be vital for us all to take a cautious and measured approach with regard to the social distancing requirements, but sensible methodologies for viewings, valuations and moving arrangements have already been widely discussed within the industry, which is ready and able to spring back to life, whilst ensuring no unnecessary risks are taken.” Jeremy Raj - Partner
More than 450,000 buyers and renters had been left in limbo since the lockdown began and the government advised that home moving and buying should stop, leaving many in limbo on when they would be able to move.
Other guidelines from the Housing Secretary include re-opening construction sites, local councils and developers being allowed to publicise planning applications on social media and allowing smaller developers to defer payments to local councils.
Jeremy continued: “We’ve already been contacted by clients keen to resume where they left off, and we look forward to assisting them in achieving their goals and completing those transactions very soon. We also know that there are now many people backed up who were about to embark on house moves, or who through the lockdown are now clearer than ever that they need to change their living arrangements, and we’re delighted that the Government has lit the touch-paper to fire up the market again.
“We successfully shifted all of our residential property team to home working at short notice and are well-placed to continue to service returning or new clients. What has become apparent during this time is that many parts of the industry have not embraced modern or remote methods of working, and we need to ensure that the impetus to update both the conveyancing system and its various component parts is not lost in the scramble to return to normality.”