When the stamp duty holiday ended on 30 September, the property industry could finally breathe a sigh of relief. The market surged following the introduction of the tax break, combined with the release of pent-up demand during the height of the pandemic.
Over the last year and a half, several initiatives have been introduced to keep the property market moving. From the stamp duty land tax holiday to the return of high loan-to-value mortgages, the market has been busy.
Conveyancers up and down the country have experienced an unexpected high in demand during the pandemic.
Although we expect there will be a rise in enquiries about the new 95% loan-to-value mortgage offers, it remains essential for your clients to consider all their options.
While the stamp duty holiday extension has been well-received by prospective buyers, concerns from professionals are now being raised.
As we continue to adapt our daily lives in response to COVID-19, the property industry adapts too.
Experts predict that post-pandemic property requirements are going to change dramatically.
I believe there will be a mini boom eventually within the sector, clients still want to move for many reasons, lenders are slowly increasing their LTVs and money is, if you still fit the criteria is incredibly cheap.
One of the most successful models that have been identified is the outsourced model.
After all, a house purchase is not just for Christmas, so make sure your conveyancing partner isn’t either.