You’ve finally got your keys and are now settling into your new home. However – work on your file is still ongoing for your conveyancer.
The next step for us would be to register your purchase with the Land Registry. Stamp Duty Land Tax and Land Registry applications are required to be submitted within set deadlines.
The deadline for submitting stamp duty land tax is 14 days from the date of completion. The deadline for submitting your land registry applications is 30 days from the final search.
It is unpredictable with how long land registry is taking to process your applications. But once we submit the application, we are able to track this with the reference number provided.
Once we are in receipt of the updated register showing you as the new owners of the property, we will send this to you by email as Land Registry sends the register electronically.
Here are a few steps of what this process involves:
1) Once we have completed your purchase, the fee earner is to note the expiry of the final searches so that the assistant submitting the registration knows the registration deadline.
2) We then submit your stamp duty on the portal as soon as we have completed on your purchase to avoid any delays and penalties.
3) Your file is then filed in the post completion cabinet.
4) We then await the Transfer document from your sellers’ solicitors along with any other post completion documents, which allows the registration to be submitted. Once we have received the transfer, this matter is now ready to be registered on the Land Registry.
5) We then submit your registration, ensuring this is done before the final search expires. We ensure your file is updated with copy of eAP1 and confirmation that registration has been submitted.
6) If there is a Lender involved, we also update LMS and lender exchange with confirmation that registration has been submitted and submit the updated register when it has arrived.
7) We also deal with any requisitions that come in.
8) Once registration has come back, this is then sent to the fee earner to check if everything is correct. If it is, we then send the completed TID to you and/or the lender.
9) We will then check to see if the file can be closed (ensuring all original documents on file are either returned where necessary or scanned onto your electronic file). If the accounts ledger is not clear, we then deal with any balances (or check with fee earner if needing assistance). If the accounts ledger is clear, we then close the file. The physical files which are ready to be closed are to be filed in appropriate cabinet.
Further reading
Purchases – Oakwood Property Solicitors
WHAT TO DO NEXT
To make a start on the next step in your property journey, get in touch today to book a consultation with a member of our team. Call us on 0113 218 5727 to find out how we can help you.
