Fleet Mortgages is telling clients to choose an efficient conveyancer if they are buying an investment property with a view to beating the stamp duty surcharge date of April 1.
To beat George Osborne’s surcharge deadline, buy to let deals (and those on holiday homes too, which fall under the Chancellor’s ‘additional homes’ category) must be completed by midnight on March 31.
Bob Young, Chief Executive Officer of Fleet Mortgages, commented: “The choice of conveyancing firm has never been so important.”
“It is not the lender that the adviser or client needs to worry about. For instance, we can turn around offers and deal with full mortgage applications quickly. However, can the same be said of those in the conveyancing process? It’s a matter of fact that not all conveyancing firms are the same, and choosing the wrong one at this juncture will mean the client probably has no chance of hitting that deadline” he claims.
“What you want from a conveyancing firm at this time is an understanding they are fully aware of the time pressures, they have the necessary resource to deal with the work and its requirements, and they are going to do everything they can in order to make it happen” he continues.
Fleet is urging buy to let purchasers to talk to lenders for recommendations of firms that can operate efficiently.
“There is very little point in selecting a firm which is not part of this specialist group as you are hindering your client before they’ve even started. Advisers can play a very significant role in the conveyancing process and it starts by ensuring the right firm is chosen” warns Young.