Completions hit record highs at the end of last month as the conveyancing and estate agency sectors came together to beat Stamp Duty deadline.
Simplify, the conveyancing and property services group, reports that there were a month of completions during the last five days of March, following an unprecedented effort to ensure the maximum possible number of transactions were completed ahead of the deadline.
Many conveyancers and estate agents have delayed holidays and worked into evenings and weekends to ensure that so many people could successfully move home.
Simplify alone completed over 6,500 mover transactions in the last five days of March, enabled by ongoing investment in technology and training, the company says.
Many estate agents have worked in partnership with conveyancers and given them the space to focus on getting cases through, according to Simplify.
The company also points to lenders having worked exceptionally hard to issue mortgage offers and release funds and the Bank of England and other commercial payment providers worked with Simplify and others to understand the likely volumes through the peak days and extended their operational hours for payment processing to accommodate the surge in transactions.
David Grossman, CEO of Simplify, commented, “This has been a monumental effort by everyone involved. The dedication and collaboration across the industry have been truly inspiring. We are grateful for the support from the Bank of England and other payment providers, which has been crucial in achieving these record numbers.”