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Post-lockdown Boom in Conveyancing Instructions

Since the Government announced the reopening of the housing market back in mid-May our Residential Property Team here at Fosters have witnessed a dramatic increase in instructions.

After almost seven weeks of Coronavirus lockdown restrictions prevented most people from moving home, pent up demand looks to have released a large number of people looking to buy or sell their properties or remortgage and transfer equity to better suit their needs.

Although there remain concerns for the longer-term buoyancy of the market, with reports of falling house prices and economic collapse, the current experience of our Residential department is of being asked to support an increasing number of people through their property journey.

With the news this week of a stamp duty ‘holiday’ launched by the Government, it’s expected this will add even more positive activity – with the threshold at which the tax will be charged being temporarily raised to £500,000 and potentially saving home-owners thousands of pounds on their property transactions.

Rebecca Laws, Head of Residential at Fosters explains: “We continued to work throughout lockdown and overcame the challenges raised by this unprecedented situation to help people complete their move where possible. Naturally, we saw a reduction in the number of new matters during the opening weeks of lockdown, with the public being instructed to stay at home. However, since the Government’s announcement to release the property industry on the 13th May, there has been a substantial increase in enquiries and instructions, which is hugely positive.

“We’ve also been thrilled to have received such positive feedback from our clients where we have been able to complete their property transaction during lockdown or successfully help them through this period until they could complete their property matter safely.”

How we can help you

If you would like to discuss how we can help you with your legal property enquiry at this time, please do get in touch with our Residential Property Department by calling 01603 620508.

We are also able to provide a no-obligation quote – so do please contact us today to see how we can support you with our range of legal property services, which include providing help to buy or sell your home, re-mortgage or transfer the equity in your home.

More information, including current COVID-19 precautions required for those thinking of moving house at this time can be found on the Government’s website.

Here is some of the feedback our clients have given us

“Moving house in Norwich? Use Fosters. After having a bad experience with a conveyancing solicitors firm in Norwich with the move into our first home we didn’t want to make the same mistake again. On recommendation from our estate agent Minors and Brady and other friends and knowing the general reputation of Fosters we didn’t think twice in choosing to go with them. We are so glad we made this decision, the effort Sarah and her team put in was fantastic, especially with there being difficulties at times, they showed real determination and genuine care for myself and my wife to move into our dream second home with no issues. 100% would recommend.”

“This is the first time I have used them for a sale and especially during COVID-19. Patient, informative, attentive to detail and just genuine, wonderful people. Jordan and Sue were stars and remained calm with me even though at times I was rather grumpy (but they operated in times never seen due to COVID-19!). The sale was a little complex due to COVID-19, and many aspects needed their real professional approach, to be able to do a simultaneous exchange an complete, and they had to deal with factors never seen before, people working from home, companies having limited staff because it added some communication issues, but they sailed through. First-class company, well trained staff. They needed a medal. Huge thank you.”

“Having worked in the property industry for over 10 years, I have used numerous legal firms, and in my own recent transaction of a buy-to-let purchase, my expectations were surpassed by Sarah Humphrey in the conveyancing department. She was phenomenally efficient, courteous and always on hand to help with any queries.”

“We recently purchased our first house with Sarah Humphrey and her team, after a family recommendation. After ironing out some small admin issues, our experience has been positive. Sarah was brilliantly conscientious and talked us through the process, keeping us updated throughout. A very professional and friendly team who we really feel had our best interests at heart.”

“Having recently used Fosters Solicitors to deal with the sale of my property, I would be very happy to recommend them. There was always someone available on the end of the phone which gave peace of mind through the whole process.”

“Excellent service from Fosters – We have recently exchanged contracts on our house in Wymondham. Although our buyers created problems prior to exchange, Sarah Humphrey, from the Norwich office, was excellent at keeping us updated and chasing our buyers solicitors for information. She replied promptly and fully to our e-mails and ensured that all our paperwork had been received by her prior to exchange. An excellent service.”

“The team at Fosters Norwich are amazing, very professional and very efficient. From the solicitor that handled the legal side of my flat sale to all the other members of her team that kept me in the loop at every stage of the process and answered every phone call or email I sent with a friendly ‘nothing is too much trouble’ attitude, I really couldn’t have asked or hoped for more.”

This article was produced on the 10th July 2020 by our Residential Property team for information purposes only and should not be construed or relied upon as specific legal advice.