How Quickly Can I Move House?

Sarah Ryan, Head of Private Client
Author:
Sarah Jones
Head of Residential Conveyancing
Date:
17/07/2020

It really does depend on a number of different things such as how many people are in your property chain, how soon you can physically pack up and move and finally how quickly your Conveyancer can process your transaction for you.

But, since the Coronavirus pandemic, you will need to try to factor in some additional considerations such as what happens if there’s a second wave, what happens if someone in the chain is diagnosed with Covid-19 and anything else connected to the pandemic.

Let’s look at some of the issues in more detail.

What Should I Do if I Want to Move House Quickly?

You should firstly discuss the timescales with your Conveyancer when you instruct them. It’s really important that you tell them exactly what your plans are for a quick move so they can hopefully meet your needs.

You should understand that the more long and complex your chain is, the less likely you’ll get a quick move. Trying to get lots of people to agree and lots of Conveyancers to stick to the timescales can be a real challenge.

You’re more likely to be in a great position to move quickly if you are a first time buyer, have a short chain, or you can sell your home without needing to move straight in to the new home you’re buying.

Because of the Stamp Duty changes, the market is extremely busy. You’ll need to factor this into your plans if you want to move quickly. Remember, you only have until 31 March 2021 to complete to take advantage of the changes.

Coronavirus Issues

We know from experience that Covid-19 can cause issues in a property sale or purchase. If someone needs to self-isolate because they have symptoms or has tested positive, this can cause issues for everyone in the chain.

Equally, depending on what happens this winter, there are questions about whether a second wave is going to hit the UK. We really hope this doesn’t happen, but we have lessons learnt from the first lockdown on how to deal with this.

Our whole Conveyancing team continued working remotely and is still doing so. Our IT infrastructure and agile working practices have meant that we have continued to help all of our clients right through lockdown and out the other side. 

We immediately introduced simultaneous exchange and complete. This simply means that exchange and completion are done on the same day, so there is no chance of a sale or purchase falling through at the last minute because of Coronavirus.

You can be sure that if the second wave happens, we’ll still be here to make sure your move happens. 

How We Help Our Clients Move House Quickly

We know how important it is to stick to deadlines for all our clients. We’re confident we can help you to move within your timescales as we have an excellent team of specialist Conveyancers. They’ll talk to you at the beginning of your transaction to understand your sale or purchase, or both, and to see how complicated your chain is.

Once they understand how your chain is structured, they can give you advice on how long they think it will take to complete your move.

We love to help our clients moving quickly and as an incentive, we’re offering £100 cashback to our Conveyancing clients who complete their sale or purchase within 3 months. On top of your cashback, you’ll also get a Free Online Will so you can be sure that your property is protected, if anything happens to you.

Move House Quickly for Stamp Duty Reductions

Another big incentive to move as quickly as possible is the current reduction in Stamp Duty Land Tax (SDLT).

HM Government has reduced Stamp Duty rates for everyone buying a property, even those buying a second home or investment property.

You won’t pay any Stamp Duty on a property worth up to £500,000 in England. This is a significant reduction that could save you thousands of pounds as long as you complete on or before 31 March 2021.

Anyone buying an investment property or second home, will now only pay 3% Stamp Duty on a Property worth up to £500,000 in England.

Considering the average house price in the UK is £231,000, this puts most people across the country in a position where they won’t pay any Stamp Duty at all.

You can see all the new, reduced Stamp Duty rates for England at Gov.uk.

In Wales, they’ve temporarily removed Land Transaction Tax from any property worth between £180,000 and £250,000 from 27 July 2020 to 31 March 2021.

Any property worth up to £180,000 was exempt from Land Transaction Tax anyway.

Get a Free Conveyancing Quote Now

If you want to move quickly, we can help you. Get a Free Fixed Fee Conveyancing Quote online or call one of experienced Conveyancing Solicitors now and ask them about moving quickly.

Don’t forget, you can get £100 cashback and a Free Online Will if you complete your sale or purchase with us within 3 months.

For free initial advice call our Conveyancing Solicitors

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Simpson Millar Solicitors are a national law firm with over 500 staff and offices in Bristol, Cardiff, Lancaster, Leeds, Liverpool, London, Manchester and Southport.