When to exchange

[StampDutyDeadlineHeadache]

We have made it to the point of exchange - can hardny believe it but glad to be here!

Can anyone advise me about completion dates? 28th June would be best for us as it gives us time to make various complicated arrangements (moving into rental, storage etc) but our estate agent has suggested it would be more sensible to complete by 24th June in case of 'anything going wrong'.

We are not making an onward purchase so the process of exchange is fairly straightforward for us we think.

AFAIK - they prefer a buffer just in case something happens and there is a delay - e.g the banks computers crash and they can't transfer the mortgage funds etc.

Rare - but it does happen!

Usually it doesn't matter quite as much if it's delayed by a couple of days for whatever reason, but obviously with the stamp duty deadline it could be an expensive delay!

Okay that makes sense. It would make our lives so much easier to have one more weekend to move basically...would it be fair to say that we could propose that date and leave it to the buyer to say if that date doesn’t work for them?

Oh and my title should be when to complete obvs.

Are they trying to make sure it goes through in time for the end of June and the stamp duty saving? Trouble is if you say the 28th everyone will be prioritising those completing on the 24th so something might be missed on your sale such as drawing down the funds.

Yes trying to meet the stamp duty deadline although we aren’t buying ourselves. We were also told to avoid the 25th as it’s too busy and everyone will be doing it that day. But we are only now at the point of talking about dates and having any certainty that we are exchanging so arranging movers, storage, somewhere to live has been tricky. We have two young kids and busy jobs and no help so it’s a question of what is possible for us I think. But obviously I don’t want to jeopardise the sale.

I'd do 24th. We're completing on the 25th and even that makes me nervous for the stamp duty deadline being so close..

@SpnBaby1967

I'd do 24th. We're completing on the 25th and even that makes me nervous for the stamp duty deadline being so close..

We don’t benefit ourselves from the stamp duty deadline - kind of the opposite as we are getting all the associated chaos! Although it did also get us our buyer of course. So I suppose I’m seeing it as it’s up to the buyer to have everything ready and manage to complete on the agreed day...if that isn’t completely unreasonable?!

Ring movers tomorrow before agreeing the date as it is going to be a popular couple of weeks!

@wtheck

Ring movers tomorrow before agreeing the date as it is going to be a popular couple of weeks!

That’s one reason I want to do 28th! We can get moved over the weekend that way and take some of the stress away. I had provisional dates held but all cancelled on me as others exchanged and were able to confirm dates before me. We are only just at the point of talking about dates now.

25th is a.friday. I was supposed to complete last Friday, but mortgage company was slow to release funds so I moved out, but we didn't complete until today. A nightmare for anyone in the chain who were counting on moving in that day. I am in temporary accommodation anyway so all my stuff was going in to storage..

Stamp duty holiday only ends at the end of June for property's over £250,000. Anything under that still has until the end of September.