Don’t Be Put Off Selling And Buying A Home

Posted 29 April 2020 by Keith Osborne

Industry expert Jason Howes on how the homebuying and selling process successfully continues in spite of lockdown...

Jason Howes, national managing director at Sequence Land & New Homes, reassures potential vendors and first-time buyers that the property purchasing process – especially with brand new homes – is still successfully operating, even under lockdown.

“We’re certainly all living in unprecedented times right now, and following government advice to either negotiate a delay where moving involves entering a previously occupied property, or avoid it altogether, both customers and the property market find themselves in challenging circumstances.

“Not everything has grinded to a halt in the property world however. Having successfully transitioned to remote working, we’re continuing business as usual for all sales in progress, and for would-be buyers, especially those needing to move for the first time, now can be a good time to consider buying new.

“Given that new builds are vacant, they do not pose the same risks and restrictions as a normal sale. There are no obstacles to stop the progression of unoccupied properties, so first-time buyers with no chain are in a particularly unique position. Whilst they will be unable to view the property during lockdown due to strict social distancing rules, buyers can still buy off-plan and see detailed computer-generated images and brochures to get a good feel for what the finished product will be like.

“Many lenders and larger solicitors are still functioning, something that our specialists can advise on. Surveyors are also offering desktop valuations with no need for a physical inspection, which an increasing number of lenders are willing to use.

“Another point of note, is that the popular Help to Buy scheme, which is available across numerous new build developments, appears to be a much quicker process at present. It could even be said that moving into a brand new home that offers the scheme might be the best way of getting onto the property ladder right now.

“Whether seeking a home move or product change now or in the near future, we would encourage all prospective buyers to consider using this time as an opportunity to review finances, research mortgage and lender options, and research any available assistance such as Help to Buy. This means that regardless of when the lockdown starts to ease, customers will be as prepared as possible.

“We always put our people first and will ensure we keep business ticking over in a safe and considered way. There are still ways to do things with the correct level of caution taken, and we have stringent handover procedures in place to make sure we are adhering to the social distancing guidance at all times.

“Whilst we don’t know what the future will look like after lockdown, our customers can be assured that our new homes teams are still operating, and are here to help. So whether you’re looking for a new home, or simply some advice and guidance, please do get in touch.”

 

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A Guide To Part Buy Part Rent
With Home Reach you buy a share of your chosen newly built home and pay a monthly rent on the part you don’t buy. Your budget will decide the size of the share you buy, rather than the size of your home. So, you might decide to buy a bigger share of a lower priced home or a smaller share of a more expensive home.

You are able to purchase your share in either cash savings or by taking out a mortgage. If you are taking out a mortgage to finance your share, you will need to allow for a minimum of 5% deposit. The larger your deposit (typically 10%) the lower your mortgage repayments are likely to be.

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