Thousands of buyers and sellers are currently rushing to get their property transaction over the line before March 31st, when the Stamp Duty Holiday ceases.
Rumours are circling that the deadline will be extended by 3 months however nothing has been announced as of yet.
Getting a move on
if you're mid-transaction, however it is still possible - and preparation is key. While at this stage there are no guarantees, you can still endeavour to put yourself in the best position to succeed.
Here are some top tips for keeping calm and completing on time.
Avoid a long chain...
The longer your property chain, the higher the chances of delays. Ideally, at this stage you'd be looking to buy a new build property or one that has as few links in its chain as possible.
No matter what stage you're at in the conveyancing process, there's always something you can be doing to prepare for the next stage. Just listed your property on the market? Instruct a solicitor and get a mortgage in principle. Just made an offer? Get those local authority searches underway and instruct a surveyor. Just accepted an offer? Get together all the documentation your solicitor might need, such as guarantees for appliances and any planning documents for your property.
Book a survey...
While it may be tempting to skip this step, it's vital to have a professional surveyor look over the home you want to buy. Unbeknownst to you, your new dream property could be beset by serious problems beneath the surface, which could be stressful and costly to fix once you own it. So, another way of speeding things up is to do your research and find a reputable, qualified surveyor ahead of time, and book your survey as soon as you are able to.
Chasing things up...
If your surveyor says they will send you something to sign on a certain day and they haven't, chase it up immediately. If there are delays in the mortgage application process, get on to your mortgage broker for an update to see if there's anything you can do to move things along. While we certainly don't advocate haranguing people - after all, your solicitor and other parties in the conveyancing process have lots of important things to do besides answer constant calls and emails - don't be afraid to get in touch if you think something might be taking longer than it should.
Work with us...
Our years of expertise means that we'll quickly be able to find the most suitable mortgage for your circumstances and chase up any delays with your mortgage lender on your behalf. Rest assured, we can support and guide you through the process. Get in touch, we can help you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Let us help!
We can also help your home purchase get underway by helping you to find the most suitable mortgage for your needs and circumstances and give you our expert advice on how to protect your property, income and family.
If you would like more information or help with your mortgage and protection concerns please call us on 01344 225 149 or 07979 690 056. Alternatively please send us an email at firstname.lastname@example.org
Your home may be repossessed if you do not keep up repayments on your mortgage
Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.