Stamp duty can this be paid after compeltion

lotto-dreamer

Silvercar, I don't disagree with you as I certainly don't really know the right answer to this one - you could be correct - and as you say the solicitors could earmark their fees they already hold for the stamp duty to comply with mortgagee's requirements -and use the balance paid in later for their fees. Probably a good way round it.

I hope it all works out ok for the OP.

dkny_2

Thanks,
Am confused now lol..Im gonna pop in to see solcitor at some point to discuss this, I would prefer to pay this after completion TBH (around £8,700 ish) the rest of the money is with them...Just a little stuck on this one..If this isnt paid can they stop completion from goin ahead on friday? The money i want to use for this doesnt clear till Tuesday

Thanks again

Rachman_2

So what's the gross error by the solicitor ? From what you posted, I am presuming it's a simple issue of they forgot to issue a completion statement - by the same token, did they tell you over the phone how much stamp duty to send them (most sols are very slow at dishing out completion statements). In any event, if you show you have an irrevocable payment instruction from your account to your solicitor's client account, they should be fine with that (and you have the money there to do it). I don't mean this the wrong way, but why cut it so fine with the money movements - the £1.20 a day gross interest on £8,700 is hardly worth the stress, is it ?

As for stamp duty, almost all conveyancers will want it at closing, so they can be sure it will come through in time - you can imagine the large numbers of people that post-closing, will say, "Oh, I won't bother", "the cheque's in the post", possession is 9 10ths of the law etc.

dkny_2

Rachman wrote:

So what's the gross error by the solicitor ? From what you posted, I am presuming it's a simple issue of they forgot to issue a completion statement - by the same token, did they tell you over the phone how much stamp duty to send them (most sols are very slow at dishing out completion statements). In any event, if you show you have an irrevocable payment instruction from your account to your solicitor's client account, they should be fine with that (and you have the money there to do it). I don't mean this the wrong way, but why cut it so fine with the money movements - the £1.20 a day gross interest on £8,700 is hardly worth the stress, is it ?

As for stamp duty, almost all conveyancers will want it at closing, so they can be sure it will come through in time - you can imagine the large numbers of people that post-closing, will say, "Oh, I won't bother", "the cheque's in the post", possession is 9 10ths of the law etc.

Understand what u are sayin he said it was £2,500 before thats all, i dont wanna have a "im a right your wrong debate over this" as this has been sorted with the solictor now, they have agreed for me to pay half on completion and the rest next week.. Just wanted to know if i could pay SD after but solcitor said it usually is at their "discretion" and his happy to accept half and the rest next week, his happy im happy - everyones happy .Thanks for your replies

Rachman_2

Did you get sorted in the end ? Hope it went well....

dkny_2

Rachman wrote:

Did you get sorted in the end ? Hope it went well....

It all went well thanks,
we completed yesterday, and it feels great..


Thanks to everyone for their advice