Our manic rush to the end of the Stamp Duty Holiday
Thursday 30th September was a race against the clock. With businesses forced to complete as many deals as possible before end of the Stamp Duty Holiday, conveyancers up and down the country were under enormous pressure. Ahead of the deadline, the team at Adkirk Law went above and beyond expectations to achieve an on-the-day re-mortgage application and two completions, in the process saving our clients thousands of pounds!
Whilst our team worked over the weekends leading up to the deadline to ensure that transactions were completed ahead of the 30th, there are three stories from the deadline day that stand out from the crowd.
On the day reissued mortgage application
On the morning of the 30th, our team had a call with a lender to chase a long-awaited update on a matter they had referred. The lender said it was their intention to reissue the mortgage offer. We requested this was done immediately and as soon as this was received at 2pm, we pushed for the funds request to be accepted by the lender and ensured that no stone was left unturned before receiving the mortgage advance at 5.20pm and completing the deal for the client at 5:40pm.
What is normally a 3-5 day process, was completed in just 7 hours.
Last minute completion
On the 30th we received a call around 10am to say that the sellers wanted to complete that day. The date had not been agreed for completion and we had only just received replies to enquiries. We quickly assessed the situation and realised that all was in order and it could possibly be achieved. We swiftly requested funds from the lender and the balance from the client and proceeded to exchange and complete the matter at 3pm.
New-build purchase
On Sunday 26th September we got in touch with one of our clients to say that it may be possible to complete their new build property ahead of the deadline. Whilst a process such as this can sometimes take a week or so to set up, our team worked tirelessly over the next four days to get the matter successfully completed ahead of the deadline, saving the client the additional stamp duty in the process.
We are immensely proud of our teams’ exceptional efforts to complete numerous transactions during the 15-month holiday period.
If you’re looking for help to complete a property transaction, or require expertise to help with your re-mortgage or lease extension application, then please do contact us on 0330 111 9728 or by email [email protected]
