In this article, Dispute Resolution Associate, Olivia Parkinson covers everything you need to know about contesting an ex-spouses will.
Since March, we have seen a significant upturn in new conveyancing work. Increasingly, estate agencies have reported ‘green shoots’ of recovery in the property market, with more purchaser enquiries, although not necessarily more sales. Frettens are seeing fewer sales fall through, fewer last minute price reduction negotiations, faster exchange processes and the return of gazumping.
The Royal Institution of Chartered Surveyors reports ‘tentative signs’ of a property market recovery, whilst acknowledging that average sales per surveyor are 41% down on the same period last year. Agents are more optimistic, expecting price reductions to stabilize in the next few months. Government statistics indicate the decline in property prices has slowed and sellers are setting more realistic asking prices.
The lack of mortgage lending is another significant factor in the slowdown of the market. Reduced funding for lenders has lead to more restrictive lending criteria for borrowers, making it very difficult for prospective buyers to qualify for mortgages. However, there are indications that lenders have started to relax their lending needs which will help the market to start moving again.
After a severe Winter of discontent, things may be slowly improving. Now could be a good time to buy because this could be the bottom of the market. Happy house-hunting!
