Just bought a property. Here’s what happens next- The post completion process explained.
Whilst the dust settles after the recent stamp duty land tax changes in March, it’s important to understand the post-completion process and what your solicitor/Conveyancer is doing behind the scenes.
- Stamp Duty Return
- Your solicitor will prepare and submit your SDLT return to HMRC.
- Even if you’re lucky enough not to owe any SDLT (due to thresholds or reliefs), your solicitor will still do a return to HMRC.
- This must be done within 14 days of completion; otherwise, there will be a penalty to be paid.
- Registration as the legal owner
Next up: Getting officially registered as the new legal owner of the property.
- Your conveyancer will lodge an application to the land registry to register the buyer’s new interest in the property. This will involve uploading TR1, Charges, Grant of probate, Mortgage deed, SDLT 5, etc.
- The land registry may raise queries (called requestions) which will be dealt with by your conveyancer.
- Once this has been approved, the land registry will amend the current tile to reflect the new ownership.
- Due to current delays at the land registry, this may take several weeks to several months or even up to a year, especially with leasehold properties or new builds.
- Confirmation of the title & notifying the lender:
Once the land registry has processed the application:
- Your conveyancer will confirm registration is complete and send any final documents.
- The file will then be officially closed, archived, and kept for several years.
- When acting for a seller
After completion, the following will be done:
- Redeem your mortgage- paying the lender directly from the sale proceeds
- Settle estate agent invoices on your behalf
- Activate any indemnity policies agreed
- Clear service charge and ground rent arrears
The post-completion process is done behind the scenes but is a vital part of conveyancing, ensuring that ownership is recorded, tax is paid, and everything is tied legally and financially.
