In September 2022, the Conservative government introduced a temporary reduction in stamp duty land tax (SDLT). The current Labour government has not extended this, which means many property buyers, including those buying their first home, will have to pay thousands more in upfront costs from 1 April 2025.
No wonder there’s been a rush of activity in the UK property market. A recent survey of homebuyers, who had had offers accepted in the past three months, found that 51% were aiming to complete before the SDLT deadline, while January’s Zoopla House Price Index showed new sales agreed were up 12% annually and buyer demand had increased by 13%.
December’s report found similarly positive sentiment with house prices rising 2% in the year to December 2024, compared to a 0.9% drop in 2023.
With this in mind, we spoke to several experts for their advice on how to get your property purchase through as quickly as possible.
How long does a property purchase take?
With 31 March just over a couple of months away, you need to have really already agreed a price with your vendors.
“It used to take around 8 to 12 weeks (so two to three months) but not anymore. Rightmove is saying it’s now closer to five months on average. That’s nearly double what most people expect,” says Sarah Walker, owner of Walker Hall Estate Agents.
“If you’re hoping to complete before the end of March to save on stamp duty, you need to get moving right now. There’s no wiggle room for delays.”
What are the common causes of a delay to a property purchase?
To ensure your property completes by the stamp duty deadline, it’s worth being aware of the things that snare up and slow down the process.
“The most common causes of delays include protracted enquiries, complications with leasehold properties and/or management companies, and long property chains,” says Ed Percival, director and head of legal practice at Simply Conveyancing.
“Depending on the local authority and the freeholder, extracting local searches and a management pack can take significant time,” adds Emma Fildes, founder of buying agency Brick Weaver.
If you’re in a chain, there’s also a chance of a broken chain causing delays. If one person’s sale is delayed or falls through, that will delay or affect yours, even though their sale is completely independent from yours.
If you’re hoping to complete before the end of March to save on stamp duty, you need to get moving right now. ·JohnnyGreig via Getty Images
Which property purchases are the fastest and which are the slowest?
As well as missing the stamp duty deadline, property delays can be stressful and costly, especially if you’re renting while waiting to buy. It’s worth knowing, therefore, which properties are prone to taking more time.
As management companies are often the cause of delays, sales involving leasehold properties tend to take longer. “Leaseholds are taking a lot longer than average since the new fire risk regulations have been introduced. Solicitors have a lot more hoops to jump, and management companies have a lot more information to process,” says Nick Karamanlis, personal broker at Moveli.
If you’re buying a property that has safety concerns, budget in extra time for the purchasing process. “Properties impacted by the Building Safety Act (BSA) or those with cladding issues can take significant time to transact,” flags Percival.
While probate properties are chain-free, make sure that probate has been granted if you’re after a speedy completion. “Sales involving a deceased estate require a Grant of Probate, which can take several weeks or months. If there are issues with wills or beneficiaries, the sale will be delayed,” says Jonathan Bone, head of mortgages at Better.co.uk.
On the flip side, quick sales often involve cash purchases, where there’s no mortgage required, and also new-build properties. “If the property is ready to move into, purchases may be faster. However, delays can occur if the build isn’t finished — some lender mortgage offers can be valid for 12 months, rather than the typical six, to cater to unfinished properties,” says Bone.
As chains can slow things down, not having a chain will speed it up. “If you’re buying a chain-free property, like a new-build or from someone who’s already moved out, things tend to move faster because there are fewer people to rely on,” says Walker.
What can you do to speed up a property purchase?
While external factors, such as chain issues, are outside your control, there are things you can do to speed up the process.
“This includes having finances in place, securing a mortgage in principle, and having all necessary documentation ready such as Anti-Money Laundering (AML), Source of Funds (SOF), and Source of Wealth (SOW) documents,” says Percival.
As well as organising your solicitor before you even put in an offer, make sure they are up to the job by getting a recommendation from a friend or family member who’s used them to buy a property before. “It really is about choosing a competent solicitor and making sure you are chasing for updates. This is not the part where you should be saving money,” says Karamanlis.
If you’re aiming to complete by a certain date, flag this to all parties as soon as your offer is accepted. While there’s no legal obligation to complete by a certain date, if there’s a target date, it will help everyone involved focus on getting to that deadline.
While you can’t choose the estate agent you’re buying from, keep in constant contact with them and your solicitor to ensure things move forward.
“A good solicitor and estate agent can be game changers here. They’ll keep things on track, chase up slow responses, and handle the nitty-gritty so you don’t have to stress as much. Don’t be afraid to lean on them; they’ve done this a million times before,” says Walker.
You also need to learn the art of compromise. “You don’t always get what you’re after with a complex transaction like buying a house, having some wiggle room with the other party’s requests can save you a huge amount of time,” says Bone.
It might even be worth trying to build up a relationship with the vendor. That way, any issues that come up can be smoothed over relatively easily.
While there are lots you can do to speed up the process, buying a property doesn’t happen overnight and you need to be realistic about timings. “Unless you are a cash buyer with no chain, the chances of completing within eight weeks are usually slim,” says Percival.
