Conveyancing transactions have historically taken on average between 6 and 12 weeks. Due to the current position with regard to Covid and the Stamp Duty Land Tax changes the average timescale has increased to around 16 to 20 weeks. Although we will do all that we can to reach completion as soon as possible, unfortunately, there are factors beyond our control which make an accurate prediction impossible. We are at this stage unable to confirm that we will be able to complete the transaction by 31 March 2021 to achieve the nil rate Stamp Duty Land Tax payment.
However, it has been reported, as part of his Budget plans next week, Chancellor Rishi Sunak will be extending the deadline from 31 March to the end of June.
If we can be of further assistance, please do not hesitate to contact us.