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UK Sales Backlog

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The UK sales backlog & the threat it poses!

Laurels Managing Director, Robert Muat, has been quoted in a widely distributed article on SkyNews highlighting the huge sales backlog in the UK and the fact that, without changes, thousands of people could end up being penalised.

https://news.sky.com/story/act-fast-or-you-may-miss-stamp-duty-deadline-homebuyers-warned-12117012

The article highlights the huge issues that the English housing market is facing, the delays/stress it is causing clients across the country and the potential it has to cause thousands of buyers to miss the stamp duty deadline in March 2021. As many of Laurels clients already know this situation is prevalent across the market and potentially it will only get worse without intervention or at the very least changes to how lenders/conveyancers/underwriters progress sales.

For the time being the whole team at Laurels would highly advise people to talk to mortgage lenders/brokers as early as possible in the process in order to mitigate the delays that are, unfortunately, likely to be faced during the sales process.

Our fantastic partnership with mortgage required is the perfect place to start as they will be able to guide you throughout the process in addition to communicating with lenders directly to try and mitigate delays! If you wish to speak to Mortgage Required then you can contact Jade@mortgagerequired.com or speak to any member of the Laurels team

Finally we would also urge everyone to primarily be pro-active with their property search and also in their communications with their local representatives as the English property market is long overdue a substantial overhaul and we would hope that the voices of many will persuade the relevant people/companies/regulators to take action!

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