Industry pledge will support home movers

28 September 2020 | General

The Home Buying and Selling Group and Law Society have produced an industry pledge, which indicates some of the tasks buyers and sellers can currently perform.

Knowing at an early stage for example that a transaction needs certain fire safety certificates can avoid wasted effort.

For sellers, the pledge recommends they instruct a property solicitor on the day they market their property and fill in the property information forms as soon as possible.

For buyers, it is recommended that they secure a mortgage agreement in principle and ensure the money they need to complete the sale is readily available.

Simon Davis, president of the Law Society, said: “The pledge could help clients take advantage of the stamp duty land tax holiday, which ends on 31 March 2021.

“We hope it will make consumers aware that the sooner their solicitors can carry out their work, the quicker the sale contract can be prepared.”

He added: “It is clear from recent announcements that the prevailing exceptional circumstances are set to continue well into 2021.

“The pledge aims to provide something uniform that both buyers and sellers can benefit from in this unusual Covid-19 market.”

This post has originally been featured in Property Wire.