As the economy continues to face uncertainty during the coronavirus crisis, choosing a conveyancing partner has become more important than ever. The property market plays a vital role in rebuilding the economy and to help boost the market, a stamp duty holiday was put into place for property buyers. The stamp duty holiday was announced on 8 July 2020 by Chancellor Rishi Sunak. It applies to all property purchases in England and Northern Island and will be in effect from now until 31 March 2021.
The aim of this break is to provide relief to buyers, which, in turn, will trigger an increase in purchase and property investment over the months to follow. The stamp duty tax relief will apply to all property valued below GBP 500,000. This, combined with the post-pandemic property boost and the post-Brexit ‘Boris Bounce’ increase will help to drive more sales, helping the economy significantly. While it is good for the economy as a whole, it is also good for the property industry. Financiers and estate agents will benefit from the increase in purchases. What this means, however, is an increased need to choose a conveyancing partner that able to scale during this key growth period in order to pave the way for greater growth within the industry.
Choosing the best conveyancing partner.
There are several factors for agents and financiers to consider when choosing a conveyancing partner. Over and beyond the ability to scale without the risk of falling behind as COVID-19 and the resultant lockdown changes the way that property is sold and purchased, there are other things to consider. Some of the most important things include the following:
Does your potential partner have the capacity to scale in today’s challenging property climate? Without capacity, it will be much harder to stay ahead of the curve. This means having the ability to assist clients as well as partners. Conveyancing panels add maximum value by helping conveyancers, finance experts and estate agents work together in a more efficient way. Working with a partner who is able to streamline the purchase process through panel management and other solutions is the best way to be sure that your clients navigate their purchase as smoothly as possible without bottlenecks and problems.
Expertise is a major criterion under any conditions. During this stage, where property purchases are set to increase, it is especially important. Highly experienced, skilled conveyancers who are able to work with all parties within the panel will help simplify the purchase process, making things easier not only for buyers but also for you and your team. The result is better peace of mind, faster transactions, less wasted time, fewer unplanned costs, and far fewer problems.
The Moving Hub offers a highly effective way to partner with highly experienced conveyancers and other property experts, allowing you to navigate the upcoming property boom resulting from the stamp duty tax holiday. Contact us today to find out more about working with a trusted conveyancing partner in the UK.