With the majority of the South East of England under tier two or tier three Covid-19 restrictions, it’s a confusing time for all of us, not least homeowners and renters.
However, at Douglas Allen we’ve compiled all the essential information you need into an easy-to-digest 10-point guide…
- With the property sector worth over £10.3 trillion* to the UK economy, the housing market was excluded from this November’s national lockdown in England.
- Housing Minister, Robert Jenrick, allowed the housing market to remain open during this period in England, with house exchanges and rental agreements permitted to continue. This will remain the case as the country reverts back to the three-tiered system in operation in England.
- As we emerge from lockdown, businesses within the property sector will continue to operate. Your property search can continue and your sale, purchase or let can proceed.
- Removal firms and estate agents will continue to operate.
- Lenders, advisers, surveyors, and conveyancers will continue, with many offering remote services and virtual advice.
- Wards provides a comprehensive virtual viewing service.
- Working from home advice – anyone who cannot work effectively from home should travel to work and follow the relevant guidance for their workplace. This means construction sites will be allowed to continue.
- Tradespeople will be able to enter homes, but must follow strict Covid-19 safety guidelines at all times.
- Mortgage lenders have announced support if your income has been affected by the Covid-19 pandemic, including a repayment holiday of up to a maximum of six months. The deadline for applying for a repayment holiday is 31 March 2021.
- The Stamp Duty Holiday will continue throughout the tiered restrictions, with most properties up to £500,000 exempt from paying any duty.
*Office for National Statistics 2019
Housing market update ahead of Thursday’s measures:— Robert Jenrick (@RobertJenrick) November 1, 2020
🏡 Renters & homeowners will be able to move
📦 Removal firms and estate agents can operate
👷🏻♀️Construction sites can and should continue
🔧Tradespeople will be able to enter homes
📋But all must follow the Covid safety guidance