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Around 1 in 3 Farnham Properties Being Sold with No Chain

So is it a good idea to rent in between moving home, to be chain-free?

Moving home is said to be the third most stressful thing you can do, so if you can do anything to reduce that stress, so much the better? When buying your next Farnham home, being chain-free can certainly reduce your stress and offers many advantages over other buyers (and some disadvantages).

So, what is a chain? A property chain is made when there is a line of home buyers and home sellers linked through their property transactions e.g. a Farnham first-time buyer purchases a property, the sellers of that property then buy another property, and those sellers then buy another property, so on and so forth. Each home sale and purchase are reliant upon the success of every property in the so called ‘chain’. This means if there is one hiccup on one of the properties, every sale and purchase along the whole chain would collapse. No wonder everyone is on tenterhooks when there is a long chain involved.

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Stamp Duty Holiday Extended

In a further boost to the property market, Chancellor of the Exchequer, Rishi Sunak today announced as part of his budget that the stamp duty holiday will be extended.

The stamp duty holiday was originally brought in on 8th July 2020 in order to stimulate the property market as a response to the impact of the coronavirus pandemic. It saw the rate of stamp duty on properties up to the value of £500,000 reduced to 0%, meaning a potential saving for home buyers of up to £15,000. The stamp duty holiday was meant to end on 31st March 2021.

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COVID-19 and your move: Understanding the latest Government advice

Yesterday, on 26 March, the Government released its advice on home moving during the COVID-19 outbreak. This has been met with mixed response, so we wanted to break it down for you and let you know what we, and you, can do to ensure that you can still buy or sell your property in the current climate.

If you are thinking about putting your property on the market;

  • You can absolutely continue to still do so!
  • We are able to provide a valuation remotely via Skype, FaceTime or other video calling application.
  • We will then work with you to create your property listing remotely. We will write a description based on the valuation. Work with you to help you take new images of your property and even a video. Source old images, floorplans and other material from a previous sale, if required.
  • You will be unable to have physical viewings, however with the content above, especially a video, we are able to provide buyers with an in-depth look at your property and generate the interest to either sell your property during this period or arrange viewings for once the stay-at-home measures are no longer in place.

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How will Stamp Duty affect my move?

We all know that buying property involves various costs and fees and it’s important to do the sums in advance so that you understand your budget and there are no nasty surprises. There are many factors to contemplate and understand, not forgetting about those all-important and unavoidable expenses.

Stamp Duty Land Tax is one of the biggest costs for home movers and questions are often asked about the ins and out of the land tax. So to lend a helping hand, we’ve created this simple FAQ!

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