When do you transfer funds?

[hopefully2021]

Hi
Reaching out for all of your property knowledge - FTB here, I think I'm a few weeks away from being able to exchange after a long 4 months but I have a couple of questions:

• When do we transfer our deposit - is it once we've exchanged or before?

• Our mortgage payments are set up for the 1st of the month, if we were to exchange say at the end of July and complete in August - would the first mortgage payment be in August or September?
• When do we have to pay our legal fees & stamp duty?

Many thanks!

Your deposit needs to be transferred to your solicitor prior to exchange. Stamp duty and legal fees will be dealt with by your solicitor so the funds you send them need to cover everything. All of this will then be written up into a completion statement so you can see where your money has gone and have evidence your payments have been made.