The housing market is to remain open through this period of lockdown, Robert Jenrick MP, Secretary of State for Housing, Communities and Local Government, has confirmed. This will mean buyers are still able to take advantage of the Chancellor’s Stamp duty reductions.
Many Agents are offering online viewings, so that the process of buying a house can still continue. In-person viewings are generally reserved for the final stage of the process when buyers are very keen to purchase, and have perhaps already done some preliminary checks on the property (e.g. location, schools, local facilities).
Decision in Principle (DIP)
As part of the process of purchasing, and reflecting a genuine intent to buy, good agents are asking potential purchasers to have some financial arrangements in place. This usually takes the form of a ‘decision in principle’ from a lender, and assures the agent and the property vendor that you are able to buy.
The frequent need for a decision in principle means that is it well worth speaking to your financial adviser early in the process so that you have the confidence that you can afford that lovely new home.
McRobieAdams advisers remain on hand to advise you through the process via virtual appointment – either via phone or video call, and most documents can be digitally signed. We look forward to helping.