diff --git a/blocks/editable/format-toolbar/index.js b/blocks/editable/format-toolbar/index.js
index f083ba449c1c5f..3397ca7da36b3b 100644
--- a/blocks/editable/format-toolbar/index.js
+++ b/blocks/editable/format-toolbar/index.js
@@ -1,8 +1,3 @@
-/**
- * External dependencies
- */
-import { isUndefined } from 'lodash';
-
 /**
  * WordPress dependencies
  */
@@ -41,28 +36,28 @@ const FORMATTING_CONTROLS = [
 const DEFAULT_CONTROLS = [ 'bold', 'italic', 'strikethrough', 'link' ];
 
 class FormatToolbar extends Component {
-	constructor( props ) {
+	constructor() {
 		super( ...arguments );
+
 		this.state = {
-			linkValue: props.formats.link ? props.formats.link.value : '',
+			isAddingLink: false,
 			isEditingLink: false,
+			newLinkValue: '',
 		};
+
 		this.addLink = this.addLink.bind( this );
 		this.editLink = this.editLink.bind( this );
 		this.dropLink = this.dropLink.bind( this );
 		this.submitLink = this.submitLink.bind( this );
-		this.updateLinkValue = this.updateLinkValue.bind( this );
 		this.onKeyDown = this.onKeyDown.bind( this );
+		this.onChangeLinkValue = this.onChangeLinkValue.bind( this );
 	}
 
 	componentDidMount() {
 		document.addEventListener( 'keydown', this.onKeyDown );
 	}
 
-	componentWillUnmout() {
-		if ( this.editTimeout ) {
-			clearTimeout( this.editTimeout );
-		}
+	componentWillUnmount() {
 		document.removeEventListener( 'keydown', this.onKeyDown );
 	}
 
@@ -76,21 +71,19 @@ class FormatToolbar extends Component {
 	}
 
 	componentWillReceiveProps( nextProps ) {
-		// Update the link value if the focused link node changes
-		if (
-			isUndefined( nextProps.formats.link ) !== isUndefined( this.props.formats.link ) ||
-			(
-				nextProps.formats.link && this.props.formats.link &&
-				nextProps.formats.link.node !== this.props.formats.link.node
-			)
-		) {
+		if ( this.props.selectedNodeId !== nextProps.selectedNodeId ) {
 			this.setState( {
-				linkValue: nextProps.formats.link ? nextProps.formats.link.value : '',
+				isAddingLink: false,
 				isEditingLink: false,
+				newLinkValue: '',
 			} );
 		}
 	}
 
+	onChangeLinkValue( value ) {
+		this.setState( { newLinkValue: value } );
+	}
+
 	toggleFormat( format ) {
 		return () => {
 			this.props.onChange( {
@@ -100,45 +93,30 @@ class FormatToolbar extends Component {
 	}
 
 	addLink() {
-		if ( ! this.props.formats.link ) {
-			this.props.onChange( { link: { value: '' } } );
-
-			// Debounce the call to avoid the reset in willReceiveProps
-			this.editTimeout = setTimeout( () => this.setState( { isEditingLink: true } ) );
-		}
+		this.setState( { isEditingLink: false, isAddingLink: true, newLinkValue: '' } );
 	}
 
 	dropLink() {
 		this.props.onChange( { link: undefined } );
+		this.setState( { isEditingLink: false, isAddingLink: false, newLinkValue: '' } );
 	}
 
 	editLink( event ) {
 		event.preventDefault();
-		this.setState( {
-			isEditingLink: true,
-		} );
+		this.setState( { isEditingLink: false, isAddingLink: true, newLinkValue: this.props.formats.link.value } );
 	}
 
 	submitLink( event ) {
 		event.preventDefault();
-		this.props.onChange( { link: { value: this.state.linkValue } } );
-		this.setState( {
-			isEditingLink: false,
-		} );
-		if (
-			this.props.formats.link.value === '' &&
-			!! this.state.linkValue.length
-		) {
+		this.props.onChange( { link: { value: this.state.newLinkValue } } );
+		if ( this.state.isAddingLink ) {
 			this.props.speak( __( 'Link inserted.' ), 'assertive' );
 		}
 	}
 
-	updateLinkValue( linkValue ) {
-		this.setState( { linkValue } );
-	}
-
 	render() {
 		const { formats, focusPosition, enabledControls = DEFAULT_CONTROLS } = this.props;
+		const { isAddingLink, isEditingLink, newLinkValue } = this.state;
 		const linkStyle = focusPosition
 			? { position: 'absolute', ...focusPosition }
 			: null;
@@ -156,7 +134,7 @@ class FormatToolbar extends Component {
 				icon: 'admin-links',
 				title: __( 'Link' ),
 				onClick: this.addLink,
-				isActive: !! formats.link,
+				isActive: isAddingLink || !! formats.link,
 			} );
 		}
 
@@ -164,25 +142,25 @@ class FormatToolbar extends Component {
 			<div className="blocks-format-toolbar">
 				<Toolbar controls={ toolbarControls } />
 
-				{ !! formats.link && this.state.isEditingLink &&
+				{ ( isAddingLink || isEditingLink ) &&
 					<form
 						className="blocks-format-toolbar__link-modal"
 						style={ linkStyle }
 						onSubmit={ this.submitLink }>
-						<UrlInput value={ this.state.linkValue } onChange={ this.updateLinkValue } />
+						<UrlInput value={ newLinkValue } onChange={ this.onChangeLinkValue } />
 						<IconButton icon="editor-break" label={ __( 'Apply' ) } type="submit" />
 						<IconButton icon="editor-unlink" label={ __( 'Remove link' ) } onClick={ this.dropLink } />
 					</form>
 				}
 
-				{ !! formats.link && ! this.state.isEditingLink &&
+				{ !! formats.link && ! isAddingLink && ! isEditingLink &&
 					<div className="blocks-format-toolbar__link-modal" style={ linkStyle }>
 						<a
 							className="blocks-format-toolbar__link-value"
-							href={ this.state.linkValue }
+							href={ formats.link.value }
 							target="_blank"
 						>
-							{ this.state.linkValue && decodeURI( this.state.linkValue ) }
+							{ formats.link.value && decodeURI( formats.link.value ) }
 						</a>
 						<IconButton icon="edit" label={ __( 'Edit' ) } onClick={ this.editLink } />
 						<IconButton icon="editor-unlink" label={ __( 'Remove link' ) } onClick={ this.dropLink } />
diff --git a/blocks/editable/index.js b/blocks/editable/index.js
index b46aa4d1efc418..1c97d23d98d9bb 100644
--- a/blocks/editable/index.js
+++ b/blocks/editable/index.js
@@ -83,8 +83,8 @@ export default class Editable extends Component {
 
 		this.state = {
 			formats: {},
-			bookmark: null,
 			empty: ! value || ! value.length,
+			selectedNodeId: 0,
 		};
 	}
 
@@ -214,8 +214,9 @@ export default class Editable extends Component {
 		this.props.onChange( this.savedContent );
 	}
 
-	getRelativePosition( node ) {
-		const position = node.getBoundingClientRect();
+	getFocusPosition() {
+		const range = this.editor.selection.getRng();
+		const position = range.getBoundingClientRect();
 
 		// Find the parent "relative" positioned container
 		const container = this.props.inlineToolbar
@@ -415,7 +416,7 @@ export default class Editable extends Component {
 		);
 	}
 
-	onNodeChange( { element, parents } ) {
+	onNodeChange( { parents } ) {
 		const formats = {};
 		const link = find( parents, ( node ) => node.nodeName.toLowerCase() === 'a' );
 		if ( link ) {
@@ -424,9 +425,8 @@ export default class Editable extends Component {
 		const activeFormats = this.editor.formatter.matchAll( [	'bold', 'italic', 'strikethrough' ] );
 		activeFormats.forEach( ( activeFormat ) => formats[ activeFormat ] = true );
 
-		const focusPosition = this.getRelativePosition( element );
-		const bookmark = this.editor.selection.getBookmark( 2, true );
-		this.setState( { bookmark, formats, focusPosition } );
+		const focusPosition = this.getFocusPosition();
+		this.setState( { formats, focusPosition, selectedNodeId: this.state.selectedNodeId + 1 } );
 	}
 
 	updateContent() {
@@ -497,28 +497,33 @@ export default class Editable extends Component {
 		return !! this.state.formats[ format ];
 	}
 
+	removeFormat( format ) {
+		this.editor.focus();
+		this.editor.formatter.remove( format );
+	}
+	applyFormat( format, args, node ) {
+		this.editor.focus();
+		this.editor.formatter.apply( format, args, node );
+	}
+
 	changeFormats( formats ) {
 		forEach( formats, ( formatValue, format ) => {
 			if ( format === 'link' ) {
-				if ( this.state.bookmark ) {
-					this.editor.selection.moveToBookmark( this.state.bookmark );
-				}
-
 				if ( formatValue !== undefined ) {
 					const anchor = this.editor.dom.getParent( this.editor.selection.getNode(), 'a' );
 					if ( ! anchor ) {
-						this.editor.formatter.remove( 'link' );
+						this.removeFormat( 'link' );
 					}
-					this.editor.formatter.apply( 'link', { href: formatValue.value }, anchor );
+					this.applyFormat( 'link', { href: formatValue.value }, anchor );
 				} else {
 					this.editor.execCommand( 'Unlink' );
 				}
 			} else {
 				const isActive = this.isFormatActive( format );
 				if ( isActive && ! formatValue ) {
-					this.editor.formatter.remove( format );
+					this.removeFormat( format );
 				} else if ( ! isActive && formatValue ) {
-					this.editor.formatter.apply( format );
+					this.applyFormat( format );
 				}
 			}
 		} );
@@ -552,6 +557,7 @@ export default class Editable extends Component {
 
 		const formatToolbar = (
 			<FormatToolbar
+				selectedNodeId={ this.state.selectedNodeId }
 				focusPosition={ this.state.focusPosition }
 				formats={ this.state.formats }
 				onChange={ this.changeFormats }