Legal completion and key release
Now this is the exciting part. Legal completion is when the property transaction is legally finalised and you get the keys to your new home.
You're almost there!
Now this is the exciting part. Legal completion is when the property transaction is legally finalised and you get the keys to your new home. This is the final stage of the process and takes place when our solicitor tells yours that we have received your monies. Your solicitor will arrange for the transfer of monies and will also make sure that any stamp duty is also paid to HMRC.
Stamp duty is a Government tax on buying a property over a certain price bracket, and is only applicable if the price of the home you’re buying is over the relevant threshold. First time buyers don’t pay stamp duty. Thanks to the affordability of our homes, and the fact that many of our customers are first time buyers (where the threshold is higher than for people who have previously owned a property), we find that the majority of our customers do not have to pay stamp duty.
When you’ve completed
We’ll handover the keys, any documents you need, appliance warranties and owner manuals so that you are all prepped to be a homeowner. Plus, we’ll also provide you with a welcome pack to help make those first few days a little breezier.
After completion your solicitor will then continue with the formal side of things and register you as the owner at the Land Registry, it can take several weeks for the Land Registry to complete this process. Once it has been completed your solicitor will send you a copy of the updated entry with the Land Registry showing you as the owners of your new home.