The Law Society is once again urging people wanting to buy or sell a home during the temporary stamp duty holiday to have realistic expectations about completing before the 31 March deadline.
Analysis by Rightmove suggests that around 100,000 buyers will miss out on the stamp duty saving. “While the conveyancing market continues to operate despite the lockdown, it has no doubt complicated the situation further for solicitors who are already overworked and under pressure ahead of the stamp duty relief deadline,” said Law Society of England and Wales president David Greene.
He added: “The Law Society has suggested that clients’ expectations of completing before the deadline should be discussed. Solicitors are there to help and can do that by speaking with clients about what they want to do if they cannot complete before 31 March.
“Many factors limiting the speed of a move – delays in the issuing of search results, delays in mortgage offers being issued, problems in the chain and with dependent transactions – are usually outside the control of the conveyancer and they cannot guarantee transactions will complete before the end of March.