Can you explain why leasehold purchase conveyancing in Chorley costs more?
The conveyancing fees for a leasehold property in Chorley is often greater as compared to a freehold transaction. This is because there is an amount of additional time required in dealing with the landlord and managing agents to collate the information concerning whether the rent and service charges have been cleared and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
How does conveyancing in Chorley differ for new build properties?
Most buyers of new build or newly converted property in Chorley approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Chorley usually buy 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 conveyancers 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 used to new build conveyancing in Chorley or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in Chorley I like with amenity areas and transport links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Chorley in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
How do I identify a Chorley solicitor on the Platform Home Loans Ltd conveyancing panel? I am a keen cyclist and am happy to travel upto 25miles to meet the lawyer.
Feel free to make use of the facility on this page. Please select a lender and your location and you will see a number of Chorley conveyancing lawyers based on proximity. We have detailed some Chorley conveyancing firms at the bottom of this page and you can ring them to check if they are on the Platform Home Loans Ltd approved list
Am I best advised to instruct a Chorley conveyancing solicitor who is local to the property I am purchasing? An old friend can carry out the legal work however her office is a couple of hundredmiles away.
The benefit of a high street Chorley conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and pester them if necessary. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were content that must trump using an unfamiliar Chorley conveyancing solicitor just because they are Chorley based.