What you need to do to help you have access to your new home by 1 pm on moving day
To ensure a smooth home move by 1 pm on the completion day, it’s essential that you accomplish the following tasks within the two weeks leading up to it:
- Check your property information, fixtures, and fittings form so that you know exactly what to take with you and what you have agreed to leave behind.
- If you require a mortgage, ensure that your legal company withdraws the funds 24 to 48 hours before completion day, and check how much this will cost you in interest payments. Please note: Legal companies typically need to ‘order’ mortgage monies 5 days before completion.
- Know the transfer amounts: It is vital that you know how much is to be transferred and when you will need to transfer the final monies to your legal company (this may be an approximate figure at this stage if mortgages are required).
- Plan your money transfers: You will need to know how long it will take you to transfer the monies due based on your own banking arrangements and/or any other limitations (e.g., can it be done in one day, or will it need staged transfers over a week?).
Ensure that your legal company:
- Orders the final redemption figures if you have an existing mortgage.
- Secures an official search to ‘secure priority over the property’s title’.
- Prepares a legal statement at least the day before the completion.
- Confirms your moving file has been signed off by a partner the day before completion.
- Coordinate with your removal company: Ensure that you are physically ready to vacate your property by 1 pm on completion day and agree on this with your chosen removal company.
Moving to another property?
If you are moving to another property, check that the owners have done all the above and secure, if possible in writing, that they will have vacated the property by 1 pm.
More information on the legal processes can be found via the following link: www.homebuyingandsellinggroup.co.uk
Please note:
This consumer advisory note forms part of the much wider strategy of the Home Buying and Selling Group (HBSG)
When moving home, look for the badge.
