Lincoln Miles Newcastle

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!  Residential - Commercial – RICS Surveyors – Valuations – Rentals