Home Buyers told Not to Move During Coronavirus Crisis

Written by: Keith Tully

Published: 27th March 2020

House keysAnyone intending to move house in the coming weeks has been told not to do so if they can avoid it during the coronavirus outbreak.

The new guidance on the matter given by the government makes clear that the ways in which residential property markets across the UK have typically functioned will need to be put on hold for some time.

For anyone who had been scheduled to move house in the near future the instruction from the government is to delay doing so until such time as the COVID-19 social distancing and ‘stay at home’ measures are no longer in place.

Where contracts relating to a property transaction have already exchanged the advice is for all parties involved to work together to find some way to resolve the situation.

However, if it is close to unavoidable for contractual reasons for a property transaction to be delayed then people are being told they should do all they can to ensure they’re sticking to the rules around social distancing that are now in place.

Anyone who has symptoms of COVID-19 or needs to self-isolate for any other reason is being told they certainly should not be moving house in the near future, even if they were all set to do so.

Plans and policies are being put together among the UK’s main mortgage lenders with a view to helping people deal with any ramifications that may arise as a result of house moves having to be delayed.

Lenders have said that they will work with anyone whose financial situation is impacted by the coronavirus in ways that could affect the mortgage deals they’ve recently agreed.

Nonetheless, the government’s official guidance around moving house represents bad news for an array of businesses whose work focusses in whole or in part on supporting property transactions and people moving house.

The government has outlined specific advice on its website for removals firms, property surveyors, conveyancers and estate agents, all of which have been advised to support their clients wherever possible in the coming weeks while taking all sensible precautions against spreading coronavirus.

Keith Tully

Keith Tully

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Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

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