The month of August is always a busy time for our Property Team at JNP Legal. This year however, it is expected to be an even busier time. The date of Friday 30th August is set to be the most popular day to move house this year, according to research carried out by The Home Owners Alliance.
Statistical data from Reallymoving.com has revealed more than 6,500 moves are expected on 30th August 2019 – which is almost four times more than average. Some 175,000 homeowners will move on a Friday over the course of the year with 28% of completions taking place on a Friday. Completing on a Friday gives home owners time to settle into their new homes before starting work again on the Monday.
The Homeowners Alliance is warning people to be extra vigilant and to ensure they are well organised if they intend to move this Friday 30th August in view of the anticipated surge in moves.
The Homeowners Alliance have said “Many homeowners like to move during the school summer holidays so their children can settle down in time for the new academic year, the start of September across most of the UK.
It may appear sensible to move on a Friday, so you have time to unpack and settle in over the weekend before heading back to work, but we advise people to be exceptionally careful if they move on a Friday. On this particular Friday, 30th August, with even more moves expected to be happening than usual, it’s paramount that people are as organised as possible.
“Of course delays can occur at any time, but issues with transfers of funds are more likely to happen on a Friday when banks, conveyancers and removal firms are stretched to the limit as it’s the time when most housing deals tend to complete. On the last Friday of the month bank money transfers can get overloaded and it’s peak time for conveyancing fraud. If there are delays in transferring funds, you may have to spend the weekend in a hotel or on friends’ and families’ sofas.”
Rob Houghton, CEO of reallymoving, further comments on the difficulties of moving house in a busy period. He said:
“Moving on the busiest day of the year isn’t for the faint-hearted, especially with the August bank holiday also happening that week, pushing more moves onto the remaining four days. Ensure your solicitor and everyone in the chain knows you’re working towards that date and book your removals firm well in advance, so you only need to confirm as soon as you exchange. It’s best to ask them to come to your house to assess the volume of your belongings. This ensures you have the right sized van and number of team members on the day of your move.”
According to The HomeOwners Alliance study, 115,000 moves are delayed every year. Reasons for the delays can include problems caused by funds not being cleared, or sellers leaving their property later than they should. Home movers can end up paying £500 or more and one in seven are having to pay in excess of £1,000 in charges because they have cancelled the removal van or have been forced to stay in a hotel.
With conveyancing scams already widespread within the legal industry, the month of August presents an even greater opportunity for cyber criminals to attempt to scam unsuspecting clients and legal practices. JNP Legal will be extra vigilant and alert to preying fraudsters when transferring house purchase money. Our due diligence team are on high alert at present to ensure your property move does not fall foul of any fraud or cyber crime. The ever-increasing sophistication of fraudsters has meant that JNP Legal have to continuously review transactions within our Property Teams so please don’t be worried or anxious if we contact you for additional information or documentation to verify information. We are ensuring both your transaction and our practice is kept as safe as we can.
Some of the potential cyber attacks JNP Legal are alert to relate to Conveyancing scams, which are a type of email modification fraud. These are widespread within the industry due to the significant amount of money passing between law firms and their clients. Criminals intervene and falsify emails between clients and law firms, resulting in bank details being changed and money being transferred to hackers instead of onto us. JNP Legal pride ourselves on keeping our clients’ money safe and will always do our best to keep your transaction secure.
These types are scams are also known as ‘Friday afternoon Fraud’ or even ‘Monday morning Fraud’. Fraudsters will target first thing Monday morning due to staff just starting their working week or on Friday afternoons when the JNP Legal accounts team are usually busy transacting funds. Our accounts team are fully trained on cyber fraud and are always on high alert for any suspicious activities.
You can be confident that your move really is in safe hand here at JNP Legal. Whether you are a first time buyer or a property investor JNP Legal can assist you. If you’re looking to buy or sell any kind of property, our conveyancing team of fully qualified solicitors and conveyancers can help to make the process as easy as possible whilst eliminating the risk of encountering any nasty surprises further down the road.
Our conveyancing team will be happy to provide you with a quotation. Our transparent pricing structures will identify all the payments involved in the conveyancing process without any hidden extras or paying referral fees to a third party.
Contact us on 01443 454915 for a quote or email us – House@jnplegal.org. You can also visit our website www.jnplegal.org where our self-service conveyancing portal will allow you to obtain a no obligation quote when it suits you.
JNP Legal are leading law specialists who can assist with all your legal needs in a discreet and professional manner.
We are open Monday to Friday, 9am – 5pm in our Merthyr Tydfil and Nelson offices and to ensure maximum convenience to all of you that may need our help and guidance on a Saturday morning 9am – 12pm in our Merthyr Tydfil office.
We offer home visits to those clients who are unable to attend our offices in person and we pride ourselves on offering first class client care.
If you need assistance in relation to any of the issues raised in this blog please call us on 01685 350421 or 01443 450561 or E Mail: Law@jnplegal.org and we will do our very best to provide you with the legal assistance you require.