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UK Conveyancing Needs To Step Up A Gear

11-09-2020 01:24 PM CET | Politics, Law & Society

Press release from: Homebuyer Conveyancing

Conveyancing Steps Up To Meet The SDLT Challenges

Conveyancing Steps Up To Meet The SDLT Challenges

The UK conveyancing market has an opportunity over the 4 week lockdown to step up a gear to get transactions processed so that Homebuyers can move over Christmas and save on Stamp Duty Land Tax. If they don't then many Homeowners wanting to move will panic and deals could miss the March 2021 deadline where Stamp Duty Land Tax will once again be introduced.

Homebuyer Conveyancing a comparison website provides a service where Buyers and Sellers can compare conveyancing quotes online by price, location and by Mortgage Lender without the need to enter contact details. This reduces spam but also when quotes are taken away, they are from potential Solicitor Clients that want to transact and want to hear from their chosen Solicitor to discuss their quote. It's a win win for all.

With so many Homeowners now realising that to save on Stamp Duty Land Tax is an opportunity that they shouldn't miss. Homebuyer Conveyancing is proving to be a great place to make an informed decision on who to instruct.
If you are lucky and you are not in a property chain then you can still complete in say 6 weeks.
However if you are in a property chain then this hinders progress and delays can be caused by Local Authority searches that have a backlog, The majority of Surveys are now carried out more than 7 days after the initial enquiry. This used to be less than 7 days.

Delays cause uncertainty and it's imperative that Buyers and Sellers understand the true costs of conveyancing before instruction.

Homebuyer Conveyancing to help has introduced a search pledge within their already comprehensive search pack. This pledge provides another set of searches for a replacement property for Free should Buyers need to pull out of their current transaction through no fault of their own. That saving could be as much as £300.

Making progress by instructing a solicitor when a property is put on the market for sale and before offer stage when buying property makes sense and can save as much as two weeks on the overall sales progression. Formulating a plan, understanding the true costs and engaging with a Solicitor that can provide a service for a fixed fee is crucial.

Buyers and Sellers must be in the driving seat. They need to understand what an achievable exchange of contracts date is and they must use Independent Conveyancers.
The current UK property market is about existing Homeowners and First Time Buyers are finding it hard to step on to the property ladder as deposits required by some lenders is 20%. That for most just isn't achievable.
We anticipate that in March 2021 First Time Buyers will be given that supporting hand and new deals will be available where 5% deposits will become available.
The bottom line is will Homeowners be able to save on Stamp Duty Land Tax. The answer is simple, if they haven't instructed a Solicitor by the end of November, they are at risk. The sensible way forward is to instruct and return paperwork so that ID checks can be carried out and then when offers become accepted they are ready to proceed without delay.

We Help You Too Ltd,
Ack Lane West, Bramhall, SK72BE
Duncan Pattinson
project@whyt.co.uk
0345 463 7664

We Help You Too Ltd manages the Homebuyer Conveyancing comparison service providing free to view comprehensive conveyancing quotes for UK property transactions. Each quote is transparent and clearly displays both legal fees and disbursements. The key is that website visitors can be informed on what the cost of conveyancing will be without disclosing their personal details. See https://www.homebuyerconveyancing.com

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