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Dear Nigel, please can we pass on our thanks for all your help and efforts selling the house through these difficult times. From our initial meeting just before lock down, through all the negotiations, the tricky survey periods you have remained professional and kept a great sense of humour!

May we wish you all the best and won’t hesitate to make you our agent of choice.

Many thanks again. Steve & Jess Bonsor, Melksham

Dear Nigel, please can we pass on our thanks for all your help and efforts selling the house through these difficult times. From our initial meeting just before lock down, through all the negotiations, the tricky survey periods you have remained professional and kept a great sense of humour!

May we wish you all the best and won’t hesitate to make you our agent of choice.

Many thanks again. Steve & Jess Bonsor, Melksham

At Lock & Key, we are always here to help if you are looking to sell your home, but we know there is more to life than the property market. There is a lot of great businesses in the local aera, and they, like you, are facing challenges right now.

This is why we want to run a competition that helps you and a local business. In association with Henrys Café, your next lunch might be on Lock & Key.

The stamp duty holiday has been in effect for over a month now, and many people are wondering how it will affect them, and the local housing market.

At Lock & Key, we know the Melksham property market. We have worked closely with vendors and buyers, and in recent weeks, there has been heightened activity in the housing market. There has also been a spike in activity across the country, and we will ensure you remain fully informed as to what is happening in the housing market.

When the housing market re-opened in May, there was considerable activity. There were many reasons for this heightened level of interest, but many industry experts predicted demand would soon tail off.

When it comes to making improvements to your home, there is a lot to be said for making changes which add value to your home. You should always look for improvements which add functionality to your site but ultimately, boosting the value of your home is never a bad idea.

Remote working has changed the way we live our daily lives, and it impacts on what buyers are looking for in a property. At Lock & Key, we have liaised with many buyers and vendors of late, and we know there is a change of outlook in the housing market.

We also stay in touch with the latest market research. We believe Melksham is an option for city dwellers looking for a new area. If you are looking to buy in Melksham or you are a Melksham resident keen to sell, we can help.

We are so proud at Lock & key to receive such a lovely testimonial from a recent client, our hard work continues to delight our customers. 

August 2020

 

Testimonial New Lawns

As soon as the Brexit decision was “concluded” late last year, we were hit by the pandemic. Four years of uncertainty was condensed into a bottle neck of demand, which was then frustrated by three months of lockdown – and longer hair! But three months of hair growth does not require three haircuts - yet three months of pent-up housing demand DOES require three times the stock availability!

That bottle stopper has now been released, prompted by the end (?) of full lockdown and the Treasury’s SDLT concession, which can save buyers as much as £15,000 in Stamp Duty. We now have a mild frenzy of buyers and sellers all wanting to take advantage of the situation from their own perspective, especially while interest base rate remains at its historic 0.1%:

184 Dataloft Weeks of Stamp Duty holiday

 

With just over 35 weeks of the stamp duty holiday left, and with the average property taking 18 weeks to sell, vendors have 17 weeks to list their properties if they want to make the most of the stamp duty holiday.

According to The Advisory, the average time to sell a property, from first day of marketing to completion, is between 16 and 25 weeks. In a hot market, it can take on average 16 weeks and a cold market, 25 weeks.

Mortgages are taking longer to secure as lenders have a back log from lockdown and are prioritising existing customers. Therefore, it may take vendors longer to move through the house buying process than normal.

Although 31st March 2021 seems a long way away, vendors need to consider the time scales of selling homes and act now.

Screen Shot 2020 07 08 at 17.13.03

 

Finally, after the pent-up frustrations of lockdown, we have some very good news to report:

Firstly, the Chancellor of the Exchequer, Rishi Sunak, has announced a substantial boost for the housing market with the raising of the SDLT (Stamp Duty) threshold from £125,000 to £500,000. This really is quite incredible and will save buyers up to £15,000 (£10,000 for first time buyers who already enjoy a discounted SDLT rate).

If the idea is to kick start house sales, then this is certain to do the trick. There are plenty of buyers around, enjoying low interest rates too, but stock is woefully low, with 15% fewer properties available than this time last year. This boost will encourage people thinking about moving to do so immediately, as the concession expires in March 2021.



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