Various web forums that I have frequented warn that are the number one reason for obstruction in Pembroke house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Pembroke.
How does conveyancing in Pembroke differ for new build properties?
Most buyers of new build property in Pembroke contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Pembroke tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Pembroke or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Pembroke I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Pembroke for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
My husband and I are novice buyers - agreed a price, yet the selling agent advised that the owners will only move forward if we use their preferred lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Pembroke
It is unlikely the sellers are driving this. If they require ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Contact the sellers directly and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to use your own,trusted Pembroke conveyancing solicitors - rather thanthe ones that will give the estate agent a referral fee or hit his conveyancing targets pre-set by HQ.
Is there a reason that Pembroke conveyancing charges differ for leasehold and freehold properties?
When purchasing a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control