Today seen the government issue some clear guidelines on all property moves – buy, sell, let and even removal firms, it’s all covered within the link below.For those who don’t fancy the lengthy read, I have added some of the basic measures which have been implemented:
- all pending mortgage applications will be extended for 3 months and reviewed frequently.
- all property sales are to be postponed
- all renters due to move in are to postpone their move.
- all viewings are to halt
- no new properties have to go to market
Exceptions:property moves where it is an emergency and essential that the move take place
- where the move not going forward is going to cause financial hardship – lenders will work with you on this.
- This in a nut shell means, the market is basically closed until the stay at home guidelines are lifted.
This is probably the best and most sensible measure to take. I understand this will be a massive blow for a lot of people, not to mention us, but we will work with everyone to help them re-schedule all house moves in the coming weeks.John O’Malley – O’Malley Property