Coronavirus: what does it mean for my house move?
Given the situation in the UK with regards to the outbreak of coronavirus (COVID-19), we are working with all parties involved in home moving to adapt and be flexible in this situation.
Following Government advice there is no need to pull out of transactions, but we all need to ensure we are following guidance to stay at home and away from others at all times.
What does this mean for my property move which is scheduled whilst the stay-at-home measures to fight coronavirus (COIVD-19) apply?
Home buyers and renters should, where possible, delay moving to a new house while measures are in place to fight coronavirus (COVID-19).
Advice is that if you have already exchanged contracts and the property is currently occupied then all parties should work together to agree a delay or another way to resolve this matter.
If moving is unavoidable for contractual reasons and the parties are unable to reach an agreement to delay, you must follow advice on staying away from others to minimise the spread of the virus.
What if an extension goes beyond the terms of a mortgage agreement?
UK Finance have confirmed that all mortgage lenders are working to find ways to enable customers who have exchanged contracts to extend their mortgage offer for up to three months to enable them to move at a later date.
If your home is not yet on the market
Getting your home onto the market may be more challenging than usual in this period as there should be no visitors to your home.
However, you can still speak to our branch staff over the phone to get general advice about the local property market and to handle certain matters remotely.
Although they won’t be able to start actively marketing your home in the usual manner, they will do what they can to advise you on how to be ‘market ready’ for when normal service resumes. For example, if you are thinking about selling, you can use this time to start gathering together all of the information you will need to provide to potential purchasers.
Viewings
If your property is already on the market, we can continue to advertise it as being for sale but we cannot allow people in to view your property.
Accepting offers
You are free to continue to accept offers on your property, however the selling process may take longer.
Exchanging contracts
Once you have exchanged contracts, you have entered into a legal agreement to purchase that home.
If the property you are purchasing is unoccupied you can continue with the transaction, however if the property you are purchasing is currently occupied, we recommend that all parties should work to either delay the exchange of contracts
Our branch doors might be closed but our teams are still here for you whenever you need them via email or phone, so if you’re unsure about your personal situation then please contact your local branch who will be able to support you during this difficult time and discuss your specific situation and options available.
