Published 20th July 2020
Finding the right property conveyancer is more important than ever before – especially for home buyers. On Wednesday 8 July 2020, Chancellor Rishi Sunak announced a stamp duty tax holiday for property buyers in England and Northern Island. This break begins immediately and continues until 31 March 2021. It will apply to all property under the value of GBP 500, 000.
The move to put this break into place is largely caused by the goal of boosting the economy as the effects of COVID-19 continue to be felt within the UK. Relief for buyers will help to increase the demand for property purchase for the next months ahead. In turn, this move could help to greatly boost the economy.
What does this mean for property buyers right now and how can buyers ensure that they find and purchase their dream home with the help of a property conveyancer? Let's take a look.
The stamp duty tax holiday will make it easier for first time buyers as well as property investors to purchase property between now and the end of March 2021. For those who have been wanting to purchase a property without extra costs, this break will help significantly lower the overall cost of property purchase. With that said, it is highly important to choose a property conveyancer who is able to help make your purchase as stress-free as possible. The increase in purchases can lead to increased demand for conveyancers. This, in turn, can lead to a higher number of less experienced conveyancers or busy conveyancers on the high street who are not able to provide buyers with full attention. Needless to say, this does not help you as a buyer. To make sure that you find a conveyancer who truly has your best interests at heart and can assist you at all stages of the purchase process, here are some key things to keep in mind.
One of the major benefits of working with an online conveyancer versus a traditional high street conveyancer is that you have the benefit of a team of highly qualified conveyancers rather than a single individual. Individual conveyancers will have an increased caseload with the stamp duty tax break, which can result in rushed, busy, distracted or stressed conveyancers who are juggling multiple clients at a time. A team of online conveyancers will be able to give you undivided attention, assisting you throughout the process with minimal delays, stress and bottlenecks along the way.
Expertise goes hand in hand with experience. A skilled conveyancer should be able to adapt to the changes in the property market – now and next year once the effects on the economy become clearer. This means adapting to new technologies, looking forward instead of stagnating or falling behind, being able to scale in a way that helps clients and proceed with transactions in a way that avoids unplanned costs and time-wasting. Ultimately, you want to have someone who not only has a comprehensive understanding of property law but also a solid understanding of how to help you navigate the often stressful waters of property purchasing.
At Home Legal Direct, we offer a full online conveyancing solution that gives you the advantage of highly skilled and experienced property solicitors. Contact us today to find out more about working with a property conveyancer to find and purchase your dream home.