Back to the blogs list

Why Movers in London Need to Act Now to Beat the Backlog and Save Money

In this two-minute read, we look at why
movers in London need to act now if they want to save thousands of
pounds in cash.

The legendary American author Mark Twain famously
said this about procrastination: ‘Never put off till tomorrow which may be done
the day after tomorrow.’

And while it might be a useful mantra when
doing something mundane like mowing the lawn or some home DIY, it doesn’t apply
to the housing market in London right now.

The national lockdown and subsequent
localised ones are causing delays in the home moving process.

If you are thinking of moving and cashing
in and making the most of the Stamp Duty holiday which could see you save up to £15,000, you’ll need to get going soon, very

The Sunday Times recently published an
article that said October 12 was the deadline for people to put their homes up
for sale if they wanted to complete the transaction before the tax holiday ends
on March 31.

It also reported that there were longer
than usual delays when getting mortgage valuations, property surveys, local
authority searches and having conveyancing work carried out.

These are all essential components of most
property transactions.

The newspaper said these Covid-19 related
delays had caused a ‘Backlog Britain’.

Its sentiments were echoed by the property
law website – Today’s Conveyancer – which said: “Pre-Covid-19 the time it took
(from the marketing of the property) to find a buyer was, on average, 79 days,
and the total time from listing to moving into a property was 187.

If that average holds, then by consulting
your calendars you’ll know that September 25 is 187 days before March 31 next
year when the property purchasing tax holiday is due to end.”

Either way, if it is October 12 or
September 25, the key thing to do is to act now if you want to beat the backlog
and move while the financial incentives are in place.

Today’s Conveyancer also published some
tips, including those below, to help you speed up the process if you are
thinking of selling or buying a new home.

The seller should instruct
their conveyancer on listing the property for sale.

Ask their conveyancer to review
the property information forms and title and to identify any issues which might
impact a sale.

The buyer should obtain a
mortgage decision in principle ahead of putting an offer forward.

The buyer should instruct a
conveyancer prior to making an offer.

The full article is well worth a read and can be found
via this link:

So, it’s crystal clear, if you want to move before the
March 31 deadline you need to act now to give yourself the best chance.

We’d love to be able to help you achieve this and make
the most of the busy market we’re experiencing in London

Give us a call on 0207 538 5554 find out how we can help you beat the delays and
get moving.