We will write to you confirming exchange and when settlement is due. We also ask for the stamp duty. There are a number of steps that we carry out as your conveyancer between exchange of contracts and settlement. If any delays occur in relation to settlement, it is usually because finance is not available for a purchaser or the bank is not ready to discharge its mortgage for a seller. There may be penalty interest if you do not settle a purchase on time. This is why it is essential to make your finance application quickly and sign your lender's loan and mortgage documents promptly on receipt. If you are selling, you must make application to your lender for a discharge of mortgage. In all cases, give our details to your bank.