It is very important that we draw to your attention, that since the announcement of the current Stamp Duty Land Tax holiday, which ends on 31 March, the country is seeing unprecedented demands within the housing market.
Many parties within the industry from solicitors to mortgage lenders, surveyors and search providers are operating a limited service. This, combined with market demands means that all parties involved with the conveyancing process are suffering delays in transaction times, leading to delays with sales and purchases and which are very much beyond our control.
Average transaction times have increased and are now 16-20 weeks. We anticipate that you will not complete before 31st March 2021. If you do complete before that date no SDLT will apply on the first £500,000. However completion by then is now unlikely and is not guaranteed, and you should budget for standard rates applying.