- May 2, 2024
- Posted by: legaleseblogger
- Category: Related News
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### Concerns about Receiving Bills After Completing a Property Purchase
Hello,
I am currently searching for information on Google regarding the timeline for receiving bills after completing a property purchase. Unfortunately, I have not been able to find any specific details on how long it typically takes for the first bill to arrive after the completion date. Could it be that bills are typically sent out a month after completion?
In addition, I have come across information stating that council bills are calculated every 10 months. Does this mean that I may expect a slightly larger bill when I move into the property?
I apologize for asking what may seem like ignorant questions, but as a first-time buyer, I want to ensure I am prepared for all financial responsibilities associated with homeownership.
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There’s no one answer to when you’ll actually receive and have to pay your first bill, as it depends how efficient the various utility companies and local council are. It will probably be in the region of what could be called “a couple of months”.
However, your *liability* for these bills will begin on completion day, so make sure you’re budgeting for them right from the start, even if the money just gets to sit in a savings account for a bit while the utility company gets everything set up on their system.
Council tax is calculated annually, but one of the payment options is paying 10% of the bill each month for 10 months then having two months off. If you move in part way through the tax year, they’ll just calculate the proportion of the yearly bill you need to pay and divide it by the number of months left.
Remember that bills don’t just magically appear. You have to contact the utility suppliers to say you’ve moved in (and if you don’t want to use the existing supplier, or don’t know who it is, you can start a contract with a new supplier and they’ll contact the old one who send you a bill for the days before the switch happened).