Virgin Money SDLT Update 2021
Stamp Duty Land Tax relief is due to cease on 30 June 2021, any agreement to a tapering of inflight transactions appears to be doubtful.
All funds requests will be processed as quickly as possible, it is therefore vital that transactions which are predicted to achieve the 30 June deadline must have their funds request submitted at the earliest opportunity.
Where possible, to enable Virgin Money to focus capacity and resources on completions:
• Allow at least 5 working days between the COT submission to the completion date
• Check the mortgage offer documents to ensure there are no issues to be raised with the lender
• Ensure the mortgage offer is still valid prior to COT submission
• Only vital telephone calls are made to the lender during this time.
For and on Behalf of Virgin Money.