Buying or Selling a Home in Uncertain Times - How to Prepare Ahead of the November Budget

If you have been following the property news recently, you will know there is no shortage of speculation about what the government may announce in the 26 November Budget. 

From potential changes to capital gains tax, through to rumours of new rules for landlords, and even ideas about scrapping stamp duty in favour of an annual property tax,  the housing market has been left in a state of limbo.

While most of these proposals may never materialise, the very act of “kite-flying” is already unsettling buyers and sellers. 

We are seeing hesitation in the market, particularly at the higher end, with some homeowners pausing sales and others rushing to complete before November.

How This Affects You as a Seller

Sellers are understandably concerned about possible capital gains tax reforms. Even though changes are far from certain, some owners, especially those who have held property for decades, are nervous about being caught by new rules.

This hesitation slows the chain. Down-sizers may hold back, which in turn affects first-time buyers and families looking to move up the ladder.

What you can do now:

• Make sure your title deeds and legal paperwork are ready to hand. Missing documents (such as planning permissions, building regs, or FENSA certificates) can cause delays.
• Instruct your solicitor early so draft contracts and ID checks are complete before a buyer is found.
• Be realistic on price: the market has cooled compared with the pandemic years.

For Buyers

Some buyers are waiting to see if stamp duty will be abolished or replaced by a new tax. While it’s tempting to hold off, such reforms,  if they ever happen, would take time and are unlikely to be introduced overnight.

If you are serious about buying:

• Get your mortgage offer in principle now so you’re ready to move quickly.
• Instruct a conveyancer early. At MJP, we can open your file, carry out ID checks, and be ready to request searches the moment your offer is accepted.
• Have your deposit and funding arrangements in place — sellers are far more likely to choose a buyer who looks “legally ready”.

For Landlords

The government is also considering applying national insurance to rental income. 

This comes on top of previous tax changes and has already led some landlords to seek valuations with a view to selling.

If you are a landlord considering a sale, the same advice applies, get your legal paperwork organised now so you can act quickly if needed.

MJP’s View

The key message for our clients is this:

• Don’t wait until November to prepare. By the time the Budget is delivered, the market may be even more congested with sellers rushing to act.
• Control what you can control. You can’t stop government speculation, but you can ensure your transaction is legally prepared and positioned to move swiftly when the opportunity arises.

Practical Tips

• Get three agent valuations and check recent sold prices in your area.
• Tidy and declutter to present your home well.
• Order searches early. In some areas these can still take weeks.
• Be chain-flexible: if possible, consider a short-term rental to keep your buyer.
• Communicate clearly: keep in close contact with your solicitor and agent to avoid delays.

Final Word

Until the Chancellor sets out the government’s position, uncertainty will continue to hover over the market. But whether you are buying, selling, or considering your rental portfolio, the best strategy is to be ready to move.

At MJP Conveyancing, we are helping clients prepare files now so that, whatever happens in November, they are not left waiting on the sidelines.