Five Tips to Help You Complete Before the Stamp Duty Deadline
With less than two months to go before the end of the extended stamp duty holiday, it’s looking tight for anyone hoping to complete on time. If you’re among them, here are a few tips that could help.
1 Don’t wait to pick your conveyancer
The number of people buying property as a result of the stamp duty holiday has meant delays in the conveyancing process. Get ahead of the game by researching and choosing your conveyancer or solicitor as soon as possible and before you put in an offer.
2 Be responsive
Once you’ve decided to move, get all your paperwork in order – such as guarantees, building control and electrical certificates. Then respond to requests for information and signatures from your solicitor immediately – even a short delay could make a big difference.
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3 Choose your buyer carefully
If you’re selling, choose your buyer carefully. Being part of a chain puts you at the mercy of other people’s transactions. A buyer who is chain free will give you a better chance of completing on time. Remember though, accepting a low offer just to benefit from the stamp duty holiday could cancel out your savings.
As we’ve said, keep in close contact with your conveyancer, and estate agent at all times. You can talk directly to your seller too – establishing a connection can help things go smoothly.
5 Focus on the dates
Remember, to pay no stamp duty on a purchase of up to £500,000 you need to complete by 30 June 2021 – or 30 September for purchases up to £250,000. Keep these dates in mind, and if you’re offered a choice for exchange and completion, always go for the earliest date possible.
Read more about this story on the What Mortgage website.