The Coronavirus has caused so many Homebuyers to question their move and some Home Sellers , Buyers are stalling.
The main questions are:-
- Can I move even if the Country is in Lockdown?
- If I do delay, will I ever get a replacement Mortgage offer?
- My Solicitor has advised that they cannot get Local Authority Searches
- Can I use a National Solicitor and instruct from my home?
- Are your conveyancing quotes inclusive of disbursements?
- Can you remortgage a property in this world wide economy emergency?
Six questions that can be quickly answered to help both Sellers and Buyers of UK property make an informed decision on what to do next.
You can move in a lockdown and the Government recognises that for most, this is very important as most have made a financial outlay and commitment.
If you have a mortgage offer then this currently is a major reason to keep momentum as many Mortgage Lenders are pulling their best deals. To get another mortgage offer could take months and the estimate is that after lockdown has been released the mortgage market to regain confidence will take 6 months.
That means that your mortgage offer, if it is a low interest rate should be massive leverage to get other parties in the property chain to keep moving.
First Time Buyers should be focused on getting their first move completed.
So slowing down your action plan to move only makes sense if you financial situation has changed. You may be out of work.
Local Authority Searches
Many Solicitors are advising that they must delay the transaction because they cannot get Local Authority Searches, fortunately Homebuyer Conveyancing has a transaction pack that solves this.
If you need help in getting your property searches then do call 0345 463 7664 or you can visit the website https://www.homebuyerconveyancing.com and enter your property details to compare online, best value deals today for conveyancing.
You may be thinking that now is the best time to remortgage, interest rates are the lowest they have been and for the majority of people striking a great remortgage deal now makes sense. Just getting the monthly mortgage repayments down will help you to fight against the strict regime of working from home.
Lockdown will be released when the NHS is confident that they have the required infrastructure to protect and save lives.
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