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Expert Property Solicitors and Conveyancers with a Personal Approach

IMPORTANT COVID-19 & STAMP DUTY LAND TAX UPDATE (JUNE 2021):

>  Please note that, despite some restrictions being relaxed, our offices remain closed to the public in order that the maximum number of staff are able to work at the office at all times and maintain social distancing – please note that staff are currently working in areas of the office that would be used for client meetings and, as a result, access by the public to our offices must be restricted at the present time.

>  We suggest that any original documentation that needs to be provided to us should be posted to us. For urgent matters, a secure mailbox is located adjacent to our ground floor entrance door, which will be emptied regularly.

All parties should be aware of longer transaction times across the country at present, due to a combination of a surge in the number of conveyancing transactions and delays caused by the pandemic and lockdown measures. The national average time from agreeing a residential sale to completion is currently 160 days (five months), up from 95 days in 2019.

 >  The rates of Stamp Duty Land Tax (“SDLT”) applying to residential property transactions have increased for purchase transactions over £250,000 taking place from 1 July 2021 and will increase again for purchase transactions over £125,000 from 1 October 2021.

>  There are a significant number of transactions where parties are looking to complete before the end of September 2021 but it is important to understand that increased transaction times and delays in the conveyancing process at present (as explained in the COVID-19 information above) will result in substantial numbers inevitably being disappointed.

>  Ryan Property Law cannot accept any liability or responsibility relating to the payment of SDLT, such as where a buyer must pay an increased amount of SDLT due to completion taking place after 30 September, nor where a seller reduces the sale price to set off any increased SDLT that their buyer is required to pay. If you need further information or guidance in respect of this, please let us know and we will be happy to assist.

>  Please also bear in mind that, where a mortgage is required, a transaction cannot complete until the property has been accepted by the lender as being satisfactory for its lending purposes. Please remember that conveyancers have obligations to report to mortgage lenders any issues which might affect their decision to lend and this could delay the date upon which mortgage money is made available to a buyer. In addition, please note that the majority of lenders are insisting upon five working days’ notice before funds are released, meaning that (for completions before 30 September) the latest date for all matters to be resolved will be 23 September 2021.

"Thank you for going above and beyond in helping us with our move and fighting our corner every step of the way. "

Lloyd & Luke, Batley

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The Law Society's Conveyancing Quality Scheme (CQS) provides a quality standard mark for lawyers in residential conveyancing is also recognised by many mortgage lenders. We were one of the first firms in West Yorkshire to be awarded the accreditation.