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It is only in certain circumstances where a house can be sold before probate is granted. Where the property is owned as joint tenants, the surviving owner will automatically become the sole owner of the house. This means that the surviving owner can immediately sell this house without the need for probate. But if the deceased person is the only person named on the title deeds of the property, then probate will be required before the property can be sold. Or if the property is owned as tenants in common, probate will also be required before the surviving owner will be able to sell the house.

Due to the introduction of Section 24 Tax or the Tenant Tax, as of April 2020, you are no longer able to deduct any of your mortgage expenses from rental income to reduce your tax bill. Instead of a deduction from your rental income, you’ll receive a tax-credit. This tax credit is based on 20% of your mortgage interest payments. So whether you’re an accidental landlord or had the intention of buying your rental properties, these Section 24 (also known as Tenant Tax) rules will affect you. How much the rules affect you will depend on the level of rental income you have and how much mortgage interest you pay.

Whilst there are risks associated with exchanging and completing on the same day, it is worth considering how these compere to the risks of a delay between exchange and completion during the Coronavirus pandemic. The main risk is from someone in the chain contracting Coronavirus Covid-19, which could delay or prevent the move. This could be you or one of the other people in the chain. But equally it could be your solicitor or another solicitor in the chain. If this were to happen it could cause a delay to the completion date and may have serious financial implications to you or to others in the chain.