MOVING HOME IN UNUSUAL TIMES?
Are you due to move home in these unusual times?
After the confusion earlier this week, yesterday the Government released some further guidance around home moving. Here's our summary:
- There is no need to pull out of transactions, but we all need to ensure we are following guidelines on social distancing.
- If you have exchanged contracts and the property you are moving to is vacant, you can continue with the transaction.
- If you have exchanged contracts and the property you are moving to is occupied, all parties are encouraged to do all they can to amicably agree an alternative date to move, to a time when it is likely that the stay at home measures will no longer be in place.
- There is an exemption for critical home moves if a new date is unable to be agreed.
- The Government is working with conveyancers to develop a legal process to move completion dates.
- Removals firms are advised that where the move is critical, they can proceed whilst taking all sensible precautions to ensure the move can happen safely.
- Removers should honour their existing commitments where it is clear that the move can be done safely.
WHAT DOES THIS MEAN FOR YOU?
- If you can delay your move, you should.
- If you have already exchanged contracts and the property is currently occupied, then all parties should work together to agree a delay.
- If your move is critical and can't be delayed, follow advice on social distancing.
- UK Finance have confirmed today that to support customers who have already exchanged contracts and set dates for completion, 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.
If your home move is imminent and you have any burning questions please do give us a call - we're here to help and support you in any way we can. 01235 751 888, Michael & Lucy
MOVING HOME IN UNUSUAL TIMES?
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