The National Lockdown and the Conveyancing Process - Our Guide

The COVID-19 pandemic created significant challenges for the UK property market, with national lockdowns affecting every stage of the buying and selling process. With estate agents, surveyors, mortgage lenders, solicitors, and other professionals forced to adapt to remote working, property transactions experienced considerable disruption.

The General Impact of the Pandemic on the Home Buying Process

The British real estate market experienced a slowdown as a result of the various restrictions placed to mitigate the risks associated with the pandemic. The property industry faced particular difficulties because of how much its processes depend on in-person interactions. With many transactions significantly delayed, the physical workforce restricted, and not all documents accessible online, slowdowns were expected to persist until lockdowns eased.

Will the Lockdown Affect Your Real Estate Transaction?

Yes — with key professionals forced to find new ways to work from home, property transactions faced a range of challenges:

• Extended waiting times for document processing
• Delayed inspections due to lockdown restrictions
• Reduced workforce capacity across firms involved in the transaction process

These challenges significantly impacted conveyancing transactions, with delays becoming widespread across the market.

Stamp Duty Thresholds and Completing Before the Deadline

For buyers who had intended to take advantage of the stamp duty holiday announced in July 2020, one of the biggest concerns was whether process slowdowns would cause them to miss the stamp duty thresholds change. With average transaction times being stretched to anywhere from 18 to 20 weeks, purchases initiated during the period faced real uncertainty.

Experts and solicitors anticipated the government would consider extending the stamp duty holiday to compensate for these delays — and this proved to be the case. If you were in this position, your conveyancer would have been best placed to advise on the options available.

What Happens If Your Purchase Isn't Completed in Time?

If a property purchase was not completed before a stamp duty thresholds change, the expected savings would not apply under the legislation as it stood. However, the conveyancing industry lobbied the government to extend the relevant deadlines because of the pandemic-related delays, which were significant and well-documented.

If your transaction was affected, consulting with your conveyancer about possible routes to maintain an advantageous position remained the best course of action.

How to Speed Up the Process During Lockdown

While the slowdowns posed significant difficulties, steps could be taken to accelerate the process.

1. Suggest Using a Longstop Completion Date

One effective approach was to agree on a longstop completion date with your conveyancer or solicitor. This arrangement allowed a party to revoke their legal ties to a transaction if the process was not completed by a certain date, encouraging all parties to work towards a clear deadline and move more quickly.

2. Opt for a Simultaneous Exchange and Completion

With a simultaneous exchange and completion, the exchange of contracts and completion happen on the same day, significantly minimising the risk of a failed completion and reducing the overall transaction timeline.

Conclusion

The COVID-19 pandemic fundamentally tested the resilience of the UK property market and conveyancing process. Those who communicated closely with their conveyancer, understood the available options, and took proactive steps were better positioned to navigate the challenges.

If you are looking to streamline your home buying or selling process, use our conveyancing fees calculator to get accurate quotes from fully regulated and trained professionals who can guide you through every stage of your transaction.