So I didn’t write my diary entry last week. The reason being that I needed to make sure that all SDLT is paid and the applications are lodged with the Land Registry; to comply with my professional responsibilities and also to comply with the lenders’ requirements.
What surprised me was that there is clearly no understanding from estate agents of what happens after completion and how quickly we need to do things in order to avoid financial penalties. I had so many emails on the 1st April asking me if I had now looked at the draft contract documents and was ready to proceed on other matters where the deals had been agreed during March. I also saw many posts (from estate agents ) bemoaning the position and asking why if solicitors could not get so many deals done in March, why could they not do it at other times?
The answer is simple – none of us would be left to do the work, because the toil, emotionally and psychologically, working at that level does to us is so high. And I believe it is not understood by others. I read an interesting article which looked at the end of the stamp duty break, not from the point of view of a buyer who was going to lose money, but from the solicitor’s angle. We were close to breaking point; we did everything we could to get the deals done for people.
And do you know what upset me the most? After I had worked long hours and not spent time with my family – those clients who subsequently called and said they wished they had waited. They can see that perhaps the interest rates will come down and that will save them more money in the long term, as well as those who rushed to get moved only to find that the house they were buying was left in a terrible state, or there were late completions…
I sincerely hope there is not another similar SDLT break in my career – it is incredibly stressful – so well done conveyancers – you did it. and judging by how quiet the phones have been in the last two weeks, I do hope you all took some time out to rest and recuperate!
This is written by a real high street conveyancer who wishes to remain anonymous. Read more in Today’s Conveyancer every week.
One Response
Well said.
What everybody should be agreeing upon is that frequent ‘boom ‘n’ busts’ isn’t healthy.
Not for the market, nor those that work within it.
‘Dysfunctional’ is the correct term.
The longer the market remains dysfunctional, the greater the number of individuals and companies working within it will become dysfunctional, rather than stable.