What happens after Completion Day?
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There are still lots of jobs for you to do after the big move day!
So, you’ve done it! The dreaded conveyancing process is over. The joy and relief of exchange of contracts a distant memory. And, completion day (your big move to you new home) has gone (hopefully) all to plan….!
Unpacking and settling into your new home is of course a big job. But now what? Other than unpacking, what else is there for you to do? What about your estate agent, the solicitor, and even your new mortgage company? Let’s dive in and take a look at what happens AFTER completion.
What is Completion day?
So, to recap, completion day is the day that money changes hands (via the solicitors), the keys to your new home are handed over, and you actually move into your new home!
Who pays my Removals Company?
You will have contracted the services of your removals company directly. It forms no part of the legal process, and NO payments are made to your removals company via your solicitor. So, if you haven’t already paid them (ahead of the move), you will need to pay any balances owed to the removals company.
What if stuff got damaged during the move?
Great as a good removals company will be, it’s inevitable that once in a while something might get damaged. If this does happen, it is likely that your chosen removals company will have a policy about this very subject. You should of course refer to your contract with them, let them know that there is a problem, and resolve it. Fingers crossed this wont be a job you need to deal with.
Who pays the Estate Agent?
Oddly, although you will have instructed the estate agent long before your solicitor got involved with the legal process, it is convention that the solicitor pays the estate agent’s bill for you out of completion money. They (your solicitor) will have detailed this in your completion statement and will send the payment to your estate agent on your behalf either the same day or next working day of/after completion.
When do I insure my new home?
Actually, you should insure your new home from the point of exchange of contracts (NOT wait until completion).
When do I tell DVLA that I have moved?
This is terribly important! It is against the law to have an out-of-date address on your driving licence which can result in a fine and even points on your licence! So, update your licence as soon as you have completed!
Tell everyone else you have moved
Don’t forget the obvious. There is probably a whole bunch of people you need to let know you have moved. Lots of stuff (banks etc) can now be done online. And/but do make sure everyone that does need to know does know! That might include:-
- investment companies (shares)
- your employer
- the local authority (council tax)
- friends and family
Unpacking is the obvious first thing to do!
Get all of your new utilities in place
If you haven’t already, get gas/electric/broadband and so on up and running at your new address. NB – make sure you take meter readings when you arrive at your new home!
Close all of your old utilities
Of course, you should also make sure that all of your old utilities from your previous address are closed. NB – do make sure you take final readings the day you leave the home you are selling.
Cancel your previous home insurance
You will no doubt make sure that the insurance on your old home is now cancelled.
Does my Solicitor do anything after completion?
Yes, your solicitor will register you as the new owner(s) with HM Land Registry and also (if you have taken one) register your mortgage too on behalf of your lender.
Is there anything for my estate agent to do?
No! Your estate agent’s work is done! And, your solicitor will usually have paid their fee as part of the completion process.
What about my mortgage broker?
If you used a mortgage broker, they too will have finished their job some time ahead of completion. Brokers tend to receive a commission from the lender in lieu of a fee. This is should be disclosed to you when you engage the services of the broker at the outset.
When will I need to make my first new Mortgage payment?
Your mortgage lender (and or broker) should have advised you of this ahead of completion. There will sometimes be an apportioned amount due in the first month, with the ‘full amount’ then kicking in when the first full month passes since completion.
Does the Electoral Register need to be updated?
Yes – you should let your local authority know you have moved both for council tax, and for the purposes of the electoral register.
What if I have more questions about Completion?
If you have any questions that this or our other articles haven’t covered, do reach out! Our team of expert conveyancing solicitors are here to help.
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