Can I Still Move Home During COVID-19?
Posted on April 21, 2020
The coronavirus pandemic has meant many people have had to put plans on hold, whether that’s holidays, work, or moving house. Whether you had plans to move around the corner, or internationally, can you still move home during the lockdown?
Property Reporter recently reported that 62 per cent of people planning to move are using the lockdown as an opportunity to get as much done towards that goal as possible, and 18 per cent still have hopes in completing that this year. Only 7 per cent scrapped their plans completely.
The most immediate course of action to take would be to put a hold on all transactions, and if need to, discuss an extension to your tenancy agreement with your landlord. The guidelines for the pandemic strongly recommend waiting until after the lockdown before moving, but should the need to move become urgent, you must adhere to the government advice regarding social distancing.
For those who had already agreed on a deal and were in the middle of the process of buying and selling, the lockdown means they potentially have the most to lose, having already invested money in the transaction.
3 per cent of those have already seen their chain collapse, 6 per cent are unable or unwilling to proceed, and 29 per cent have paused their transactions temporarily.
The 92 per cent of people with their houses on the market, but yet to find a buyer, have resolved to continue marketing their homes, reasoning that potential buyers may have more time to conduct property searches during the lockdown.
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