The final stage of the conveyancing process is known as post-completion. For many clients, the conveyancing journey ends when they collect the keys to their new home. However, the conveyancer still has matters to take care of after completion.

Within 14 days of completion, the conveyancer will (if applicable) submit the Stamp Duty Land Tax (SDLT) return and pay any tax due and obtain a certificate of submission from HM Revenue and Customs.

If any indemnity insurance policies were identified as required during the conveyancing process, these are paid for and put on risk from the date of completion.

If the property is leasehold, the conveyancer will usually be required to serve notices on the landlord and managing agent, informing them that the purchaser has bought the property and informing them of any mortgage lender. This will enable the landlord and managing agent to update their records.

If the property is leasehold or freehold with a service charge liability, it is usually necessary for the conveyancer to supply certain documents and pay fees in order to obtain documentation required to register the property at HM Land Registry. These documents are usually required to show compliance with conditions within the legal title.

Once the conveyancer has received the seller’s completed transfer deed, they will lodge an application at HM Land Registry to affect the change of ownership on the title. They will also apply to remove any existing mortgage and secure any new mortgage against the property. Any management company certificates will also be supplied together with any other documents such as evidence of the seller’s power of attorney, a previous owner’s death or change of name. It is also necessary to lodge the SDLT submission certificate.

If the property is unregistered, the conveyancer will also lodge the original title deeds.

In the last few years, the Land Registry have experienced a significant backlog, and most applications take in excess of 6 months to be picked up and processed. It can be even longer if the property was unregistered, new build or if a new lease has been granted.

Once the Land Registry process the application, they may have further questions relating to the documentation supplied. These questions are referred to as requisitions. The conveyancer will deal with any requisitions they can although some may require the input of the seller’s conveyancer. Conveyancers work hard to reduce the prospect of requisitions by ensuring all the correct documentation is obtained prior to completion.

Once the Land Registry is satisfied with the documentation provided, they will issue an updated version of the property’s register showing the new owner and any other changes that were applied for, such as the purchaser’s mortgage.

The conveyancer will inform you when the property has been registered and provide you with copies of the updated title. It is at this point that the conveyancer will look to close their file and wish you all the best for the future in your new home.

Next Steps...

If you are looking for a Conveyancer, please feel free to reach out to our friendly and knowledgeable team on 0800 011 6666 or email legal@timms-law.com

For more information about Conveyancing, please visit our webpage here.