The property market in Pembroke is hotting up. What can be done to quicken up the buying process?

In a situation where the seller is applying time constraints for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will benefit local contacts and insight. It is even conceivable that they may have conducted previoushouses in the same neighbourhood. You would be best advised to use a Pembroke conveyancing solicitor. In addition, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is estimated that just under twenty per cent of Pembroke conveyancing deals are suspended or jeopardised after finding out that a buyer’s solicitor was not on their banks list of approved solicitors. This can often result in the conveyancing being delayed by almost 21 days. It is believed that this issue impacts in the region of one hundred thousand home moves annually. Most Pembroke conveyancing firms can not act for certain banks so do check as early as possible.

I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Pembroke. My lender is Virgin

Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 12/4/2024, the requirements read as follows :

My lawyer has informed me that restrictive coveneant insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Pembroke?

The right level of restrictive coveneant indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.

I have paid off my mortgage with Co-operative. I assume I don't need a Pembroke property lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Co-operative has sent the Land Registry the discharge electronically, and
3. Co-operative has instructed the Land Registry to do so

I am selling my apartment. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being pedantic. The Pembroke solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?

It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

Looking forward to complete next month on a studio apartment in Pembroke. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Pembroke should include some of the following:

The length of the lease term. You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark Where does the liability rest to repair and maintain the building. It is essential that you know which party is liable for the repair and maintenance of every part of the building The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. specifics of the parties to the lease, for instance these could be the tennant, head lessor, landlord Ground rent - what is payable and what the invoice dates are, and also know whether this is subject to change

I acquired a ground floor flat in Pembroke, conveyancing was carried out July 2003. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Pembroke with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2097

You have 73 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

The conveyancing solicitors handling our conveyancing in Pembroke has sent documents to review that state the property is unregistered with epitome documents. Surely all houses in Pembroke should be registered?

Whilst most properties in Pembroke are now registered with HM Land Registry there are still some that are unregistered. Any property in Pembroke that has been remortgaged since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Pembroke property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Pembroke conveyancing lawyers should be able to handle this type of conveyancing but if any uncertainty reigns the usual advice these days appears to be for the vendor’s solicitor to undertake the registration formalities first and then deal with the transfer to the buyer - this can though naturally cause a significant delay.