What are the Key Tips for Choosing a Conveyancing Lawyer in London?
When buying or selling a home in London, one of the most critical decisions is choosing the right conveyancing lawyer. This specialist will guide you through the legal complexities of property transactions, ensuring the process runs smoothly. With numerous options available, how do you find the best conveyancing lawyer for your needs? This guide will […]
Read moreResidential Conveyancing Made Simple: Expert Guide from Law and Lawyers
Are you buying or selling a property in the UK? If so, you’ve likely come across the term “residential conveyancing.” But what exactly does it mean, and why is it crucial to your property transaction? In this comprehensive guide, we’ll walk you through everything you need to know about residential conveyancing, ensuring you’re well-prepared for […]
Read moreThe Conveyancing Process for Home Buyers in the UK
The journey of buying a home is both exciting and complex, especially for first-time buyers. One of the most critical components of this process is conveyancing—the legal procedure that ensures the smooth transfer of property ownership from the seller to the buyer. In the UK, conveyancing begins once an offer is accepted and continues through […]
Read moreNew 95% mortgage scheme launches today
New 95% mortgage guarantee scheme launches today, available on high streets across the country The scheme was first announced at the 2021 Budget. The new scheme will help first time buyers or current homeowners secure a mortgage with just a 5% deposit to buy a house of up to £600,000 – providing an affordable route […]
Read moreLaw and Lawyers Ltd, Conveyancing Solicitors in East London
The new covid strain is spreading rapidly across the UK that the goverment was forced to implement a National Lockdown. Whilst the vaccine distribution could months to complete, new tighter restrictions are called for to reduce death rates and save thousands of UK residents.
The government is under immense pressure now to tighten the lockdown restrictions further, as NHS hospitals are getting oversubscribed with the number of patients. We could see a new strict and tighter lockdown rules in the coming weeks as a result.
The Cheif Medical Office of England, Professor Chris Witty has warned that the next few weeks will be the “worst weeks of pandemic”.
How a tighter lockdown will affect the property sector?
Sir Kier Starmer, yesterday, during his speech, where he was criticising the goverment’s handling of the Coronavirus crisis, the labour leader did not go so far to say that the housing market should be effectively shut down, as it was in the spring 2020 lockdown.
Boris Johnson has also warned that the government “may have to do more” if ministers feel current lockdown rules are not enough to stem the current spike in coronavirus cases.
In the latest guidance update on moving homes, The Ministry of Housing, Communities and Local Government (MHCLG) has stated:
“It may become necessary to pause all home moves locally or nationally for a short period of time to manage the spread of coronavirus. We will let you know if this needs to happen.”
However there is a different view that the the closure of property market would significantly affect the Nations’ economy, thus governement would be considering a new plan to defend virus and keeping the property market open.
The latest data from Halifax shows that, residential property prices increased by 6% in 2020. The average price of a property in the UK reached a record high of £253,374 in December, up £14,295 year-on-year (propertyindustryeye.com).
However, we shall soon hear from the Prime Minister on the new guidance and plan to defend the coronavirus.