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Chestertons News 03 December 2020

Want To Beat the Stamp Duty Holiday?

With the current Stamp Duty Holiday offering a saving of up to £15,000, a lot of people are now trying to move with the same deadline: 31st March 2021.

This is causing many buyers to experience delays as businesses that are integral to the home-buying process - namely: banks, surveyors, solicitors and local authorities - are coming under a huge amount of pressure and often unable to move as quickly as they did previously.

To view properties currently for sale, visit our website here.

Despite the time taken between having an offer accepted and collecting the keys lengthening for many, you could still beat the deadline by following our useful tips.

1. Get your mortgage ready
Apply for a mortgage immediately, even if you don't have a property in mind yet.

2. Use a broker
A broker can find you deals not available on the high street and having a mortgage offer in principle means you are as ready as you can be when you find the right property. You can speak to our preferred mortgage brokers here.

3. Look for ‘chain free’ properties
Finding a chain-free property will give you the best chance of completing your purchase before the deadline; as it is just a transaction between two people (you and the seller) and one property, so there is less opportunity for things to go wrong. View chain free properties here.

4. Appoint a recommended solicitor
Speak to friends or your agent for solicitor recommendations, and before you appoint them ask them to confirm that they have the capacity to deal with your transaction as a priority.

5. Agree a timeframe
As well as agreeing a price as part of your purchase, agree a timeframe too and ensure everyone involved with the deal agrees to it. That timeframe won’t just include an exchange and completion date, it should also specify that solicitors are appointed within 24hrs and the mortgage survey and local authority searches are paid for within 48hrs.

To calculate how much you could save, use our updated Stamp Duty Calculator here.

To view properties currently for sale, visit our website here.

Tips To Sell Your Property

1. Market your property now!
If you need to sell a property before making your move it is vital that you have your property on the market immediately to give yourself the best chance of finding a buyer that can move quickly. A proactive, experienced agent will help guide you through the whole process.

2. Solicitor
Your agent can recommend a solicitor to you that they know and trust, who will be quick to respond to any queries.

3. Local searches
Delays are often caused by local authority searches, so we recommend you buy the searches in advance as they are valid for several months. Some buyers will agree to buy these off you, others may not but it is a relatively small price to pay that could speed up your sale by several weeks.

4. Managing agent
If you are selling an apartment, be proactive and purchase the managing agent pack as soon as you have offers on your property.

Our local property experts can provide you an up-to-date valuation of your property, either virtually or in person, simply click here to arrange.