Blog Post
The usual housing market rules are starting to bend
Tom Simper
May 15, 2020, 09:30 AM
Sellers would usually be reluctant to leave their properties on the market too long. However, at the moment the majority of vendors are continuing to market their homes, despite little likelihood of a sale, in the hope that armchair purchasers are spending lockdown browsing the market.
Usually, the average time between exchange and completion is 1 to 2 weeks but this looks set to increase. Mortgage providers are offering customers who have exchanged contracts the option to extend their mortgage for up to 3 months to enable them to move at a later date.
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