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Tuesday 05 May 2020
by Jackie Emson

Getting a Move On During Lockdown by FDR Law

We understand that the health and welfare of the nation is at the forefront of everyone’s minds during the Coronavirus outbreak but it does not mean that life has to stand still. 

 

Residential Conveyancing at FDR Law is open for business! 

 

We have a very experienced and well established conveyancing team led by Tim Jordan and Vicki Coulthurst working remotely with administrative support, adapting to what is becoming the “new norm” – we are just not in the same place anymore! 

 

There are still many property needs that we can attend to and make progress with during the present restrictions: 

•Remortgages 

•Transfers of equity (whether money is changing hands or not) 

•Purchases of the freehold title to your house 

•Repayment of your Help to Buy mortgage 

•Equity Release – new guidance has been issued within the industry that allows an adjustment of the face to face meeting required with clients) 

•Lease extensions 

•Declarations of Trust 

•Some sales and purchases where there is no chain/there is no physical move or the property you are buying or selling is empty which we go into further detail on below 

 

Government guidance to the conveyancing industry and the public in general means that many house moves are currently on hold, although contrary to popular belief it is still possible to move to an empty property or if a move is deemed “essential” provided that social distancing rules are followed. 

 

This allows for example the purchases of new-build homes to proceed and several national builders including Taylor Wimpey, Persimmon, Barrett, Redrow and Bellway have indicated they will shortly start building again, and allow transactions to proceed. 

 

However, what about the vast majority of “normal” house moves? Is there anything you can do to get ahead of the game so that you are ready to move once the lockdown rules are relaxed? 

 

Yes, there is. 

 

At FDR Law we have joined a group to encourage sellers of property to instruct their lawyers to prepare a “sale-ready” pack before a buyer is found so that once the situation allows we will be ready to issue documentation immediately to the lawyer instructed by the buyer. 

 

This will involve doing the initial due diligence, completing pre-contract information forms and drafting a contract – work which would normally only be done after a sale was agreed and which could shave 2-3 weeks off the time normally taken to exchange contracts. 

 

We will be cooperating with like-minded estate agents with this initiative, and crucially if we receive instructions from potential sellers on this basis during the lockdown period, we will not charge any fees (apart from third party expenses incurred) if the transaction does not proceed. 

 

Our research indicates that although many transactions are on hold during the current crisis, the majority of agreed transactions will be picked up again once restrictions ease.  There is therefore likely to be a large pent-up demand and possibly some blockages in the system while lawyers, agents and the moving industry generally get back up to speed. 

 

In order to get ahead of the game therefore you should take advantage of this offer and let FDR Law get your move on. 

 

What’s next? 

 

Please do not hesitate to contact us on 01925 230000 or contact Tim or Vicki directly via the email addresses shown below should you have any questions regarding the above or if you need any advice from our expert solicitors who will do their upmost to assist you during this difficult time. 

 

Tim Jordan – tim.jordan@fdrlaw.co.uk 

 

Vicki Coulthurst – vicki.coulthurst@fdrlaw.co.uk