Completion, Post-Completion Formalities and Registration
This domain tests the mechanics between exchange and registration: getting the money and documents right on the day, then lodging applications in time.
Pre-completion
- Update searches, particularly the local search if exchange was long ago, and obtain a priority search (OS1) against the title.
- Bankruptcy search against each individual buyer; company search where a company is buying.
- Prepare a completion statement with apportionments of rent, service charge and outgoings, and agree the figures.
- Submit the SDLT return and pay the tax within 14 days of completion.
On completion
- Funds are released against undertakings; the Law Society Code for Completion by Post governs postal completion.
- Documents handed over: transfer executed by the seller, discharge of the seller's charge (DS1), leasehold licence and deed of covenant where relevant, keys, and any deeds for unregistered land.
- The buyer's lender releases funds against the certificate of title.
After completion
- Register the transfer and new charge using form AP1 within the priority period - 30 business days from the date of the official search result. Late lodging risks intervening entries.
- Unregistered land: apply for first registration; the triggering transfer must be registered within the statutory period, normally two months, subject to extension.
- Pay the registration fee and answer any requisitions from HM Land Registry.
- Leasehold: notify the landlord or managing agent, serve notice of the new charge, and update insurance.
- Diarise the SDLT certificate, the title information document and the lender's documents.
Worked example
Completion takes place on 30 June and the OS1 was dated 2 June. The priority period runs 30 business days from 2 June, so the AP1 should be lodged by mid-July - but the SDLT return is due by 14 July regardless. Diarise the two deadlines separately; they are not the same date.
Traps
- Confusing the priority period with the completion date.
- Sending the AP1 without the correct fee or SDLT evidence, causing rejection and loss of priority.
- Forgetting the DS1, leaving the buyer's title subject to the seller's charge.