We're in Leeds, First timers buying with a mortgage (lender is Kent Reliance , and our solicitor is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
This question may be naive but I am new to the process as a first time purchaser of a ground floor flat in Leeds. Do I collect the keys to the house on the completion date from my lawyer? If so, I will use a local conveyancing solicitor in Leeds?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I happen to be the sole recipient of my late father’s estate with all property in now in my sole name, including the my former home in Leeds. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in May. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this clause is principally there to capture the purchase and immediately sell or the flipping of properties.
I have decided to exercise my right to buy my property in Leeds off the council. I have a mortgage agreed with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Leeds. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Leeds
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I opted to have a survey completed on a property in Leeds in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks will not give a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Leeds. Conveyancing will be smoother if you use a solicitor in Leeds especially if they are accustomed to such properties in Leeds.
My husband and I are 14 days into a freehold purchase having been directed to conveyancers by the high street agent to perform conveyancing in Leeds. We are not happy. Could you you assist me in finding new conveyancers?
They would need to be very poor to suggest replacing them. Has your mortgage been issued? In the event that it has you will need to inform them of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new conveyancer needs to be on the lenders panel to avoid added charges and complications. That should be your starting point. The search tool can assist you in finding a lender approved lawyer for your home move in Leeds
I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my house purchase in Leeds , but I am anxious go ahead. What can I do?
You can agree a lower deposit. Many vendors will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment