12th November 2020 Lincoln Miles Regional Blog
With a second lockdown now in place across England it is understandable that those midway through a transaction may well have questions about what this means for their move or property search.
Under the current government guidance, the property market remains very much open and its very much business as usual – whether buying, selling, renting or letting – transactions can proceed subject to strict working practices.
The government guidance also permits our Proactive Team to continue to carry out in-person viewings and valuations if both the client and buyer are comfortable. However, we fully recognise that this may not always be appropriate, and we can always organise virtual viewings, Teams and Zoom calls and interactive appointments.
Our team of RICS Chartered surveyors are still permitted to visit, our contractors can still look at your property and assist with repairs and maintenance and you can still book removal firms to physically move you from one home to another.
Understandably existing transactions are taking a little longer to process than usual. The surge in activity over the past few months means that mortgage valuers and conveyancing solicitors are working at full capacity and are dealing with a backlog of enquiries.
This not only requires patience, it’s also important for both buyers and sellers to be as prepared as possible at every stage. Those needing a mortgage for example should complete the lender’s application form and send the requisite documents as early as possible. This will include proof of ID, evidence of earnings, proof of address over the last few months and recent bank statements.
For sellers it’s particularly important to ask your solicitor to dispatch the draft contract as a priority and for all documentation detailing works carried out to the property – including planning permissions and building regulations – to be sent across quickly. This will ensure any questions from the buyer can be addressed early in the process.
Keeping in regular contact with both your agent and solicitor is also crucial - the smoothest transactions are those where everyone is working together. As experienced and highly Proactive Agents and Property consultants we have excellent relationships with lawyers on our panel and those who are not and are in constant contact by telephone not just email ensuring transactions move forward and don’t stall for any reason.
As the market reopened in May there’s been a remarkable recovery in the housing market. Recent experiences have encouraged many buyers to seek more space both inside and out, while the Chancellor’s welcomed announcement in July of a stamp duty holiday, with the potential to save thousands, this has encouraged many to make a purchase now and certainly ahead of March 2021.
We have seen a growing upsurge in an array of property matters in the North East and now certainly is a great time to reflect on your current agent and how they are performing for you. Do they call you regularly? Do they provide a service out of hours? Are they doing everything you instruct them to do? Have they fallen asleep? Now surely is the time to ensure you have an experienced agent on board who understands the need to be knowledgeable whilst resiliently proactive!
www.lincolnmiles.co.uk Residential - Commercial – RICS Surveyors – Valuations – Rentals
20th October 2020 Lincoln Miles Regional Blog
The regional residential housing and commercial real estate market has no doubt been affected by the Covid 19 crisis and post “lockdown”. As the markets reopened we saw confidence building but this has clearly been slanted by the new governmental tier rules and restrictions, regional governmental rebellion in the North East and supported by the North West and the clear public confusion surrounding the same.
Whilst we see continued confidence in the North East residential market, we also see continued confidence and support for commercial real estate sales and lease deals with many new starts up businesses arising from Covid19.
Given Covid-19 has clearly accelerated the trend towards more flexible working around the world, it’s likely that we’re shortly going to see more demand for flexible office space, particularly in suburban and rural locations as people work closer to home and there are environmental and wellbeing benefits too, with workers having less far to travel to their desks.
Redundant and nontraditional space is being transformed across the North East to pave the way for flexible working.
We see an upsurge in Flexible office space and whilst it was clear and present prior to Covid 19 and growing within the North East – We clearly are going to see an upsurgence in flexible office space with people preferring modern, bright modern office space on an all inclusive basis with full facilities, local public transport links and free carparking on site.
Ongoing structural change in retail has resulted in many large units within the city and the high street often ex-department stores, or office blocks becoming redundant or sidelined due to pitches shifting, or a general declining need for retail space as consumers shop more online.
One certain factor in the growing trend to move towards and to flexible office space is that businesses, of all sizes are increasingly fed up with long leases, large utility bills, chaotic service charge budgets and terrible property management, coupled with high rents and lack of parking and a missing dynamic customer experience and employee working feel. Clients and customers want more – they want to feel valued and demand flexibility specific to their business requirements as there is no longer a “one size fits all”.
We are delighted to be involved in some excellent service office premises in North Tyneside, Newcastle upon Tyne and are growing our marketing portfolio of those wishing to seek out serviced offices or require advice on this exciting growing offering across the North East!
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