Home Property How to buy and sell homes during the coronavirus crisis

How to buy and sell homes during the coronavirus crisis

by LLP Reporter
16th Apr 20 10:45 am

Given the situation in the UK with regard to the outbreak of coronavirus (COVID-19), the UK government has urged parties involved in home moving to adapt and be flexible to alter their usual processes.

The government said: “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, including the specific measures for those who are presenting symptoms, self-isolating or shielding. Prioritising the health of individuals and the public must be the priority.”

In the new emergency enforcement powers that the police have been given to respond to coronavirus, there is an exemption for critical home moves, in the event that a new date is unable to be agreed.

Recognising parties will need to alter common practice, the government has sought to ease this process for all involved by:

  1. Issuing this guidance, developed with Public Health England, to home buyers and those involved in the selling and moving process.
  2. Agreeing with banks that mortgage offers should be extended where delay to completions takes place in order to prioritise safety.
  3. Working with conveyancers to develop a standard legal process for moving completion dates.

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