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 If you are in the market to buy a new home and doing your research into what’s involved, how long it will take, what are the risks etc, then no doubt you will have come across the concept of ‘gazumping’.

When purchasing a buy to let property, investors are sometimes offered the opportunity to acquire the property with tenant ‘in situ’. This essentially means that the tenant currently living at the property will stay in place as the property is sold and become the tenant of the new investor/owner.

The Government has now updated its Regulations relating to buying a home during the current Coronavirus outbreak. On the 12th of May, Public Health England issued revised guidance which permits activities associated with the purchase, sale, letting or rental of residential property. 

A number of weeks ago as the scale and magnitude of the Coronavirus pandemic became apparent, some of the UK's largest lenders tightened their mortgage lending underwriting, restricted product offerings and adjusted mortgage deals to reflect the increasingly uncertain situation.

For anyone looking to purchase a property or for those who have a transaction agreed but not yet completed, the Coronavirus has created a considerable amount of uncertainty about how to progress.

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