How has the economic confusion of the Covid-19 pandemic changed legal recruitment?
Little about the past 15 months has unfolded as the legal sector expected. Elite City firms furloughed staff using public funds, only to decide to voluntarily repay the exchequer when the flow of instructions did not dry up. Over at the bar, the prediction that the economic fallout from the pandemic’s lockdowns and restrictions would see 80% of chambers close, if no state subsidy was forthcoming, remains unfulfilled. And back in March 2020, when activity in the property market froze, the subsequent boom in prices and transactions was not predicted.
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I was hunting for a new home and had my heart set on a new build. Having been on several viewings, I found a two-bedroom house on a new development being built by a big household name firm which I wanted to make an offer on.
The price of this home was advertised as £320,000, and I confirmed this with the developer s representative at the viewing and in a subsequent conversation.
Shortly afterwards, when the day came to pay a reservation fee to secure the home, the person I then spoke to informed me the price had risen £5,000.
When I queried this, they said that I could afford the increase based on a financial qualification check that I had done. Later in the conversation, they told me that another buyer was about to reserve the home anyway.
Can a developer hike the price of a new build at the last minute?
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