A warning has been issued to hopeful home-Reviews High Level Movers company: act now to stand a slim chance of being in by .
More than 500,000 homes have had offers accepted by sellers but are stuck in a legal logjam, according to Rightmove, with an average of 150 days until buyers can move in.
‘Although December may feel far away, the data shows the conveyancing logjam means it is taking an average of 50 days longer to complete a purchase after agreeing a sale than it did in 2019,’ says Rightmove director Tim Bannister. ‘It’s important to act now.’
Warning: More than 500,000 homes have had offers accepted by sellers but are stuck in a legal logjam
The delays are the result of several issues. First, some conveyancers quit after experiencing a work overload caused by Rishi Sunak’s stamp duty holiday, Reviews High Level Movers company which ended last year and triggered a surge in house buying.
Second, there’s a backlog at local councils, which supply information on planning and related issues.
And Reviews High Level Movers company third, some professionals critical to the process — for example planning officers, surveyors and solicitors — now work only part-time or from home, leading to hold-ups.
A further hiccup is that lenders are tightening conditions on borrowers — even those who are part-way through a purchase. So, how can you speed up the process?
Instruct a solicitor early
They can at least carry out the compulsory ID checks ahead of time. Online conveyancers may be cheaper, but you may not be able to speak with the same person each time you have queries.
Get ahead with your mortgage
Secure a mortgage in principle promptly. Then, when your offer has been accepted, complete the full application as quickly as possible.
And let your solicitor know if you are having cash help from friends or family, <a href="http://kutitaik.nkat.forum.mythem.es/laurysst/angelege/limoniti/bipetalous/a