Decreasing number of home-movers

Home-movers have always been great clients for property lawyers as they are already familiar with the purchasing process. Previous buyers are aware that certain formalities need to be complied with e.g. searches and that pertinent documents must be furnished e.g. formal mortgage offer.

Normally, home-movers will buy and sell a property simultaneously, or they will materialize consecutively with little time difference between the two transactions. This would consequently make a property lawyer’s life a lot easier and their jobs would also be efficiently executed.

However, it appears that home-movers seem to be decreasing. Lloyds Bank Homemover Review substantiates this claim as the number of home-movers dropped by 4% in 2016. This could be due to various reasons that pertain to current unaffordable property prices. Furthermore, one can argue that the diminishing number of home-movers is adversely affecting first-time buyers. If second-time buyers will not move out of their first homes, the number of affordable properties available for first-time buyers would be markedly reduced.Â

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