We are nearing an exchange on a house in Leeds and my mum and dad have transferred the exchange deposit to my property lawyer. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is obliged to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I am purchasing a 4 bedroom semi-detached house in Leeds. The intention is to carry out a loft conversion at the property.Will legal investigations on the property include investigations to see if these works were previously refused?
Your solicitor will check the deeds as conveyancing in Leeds will occasionally identify restrictions in the title documents which prevent categories of alterations or necessitated the permission of another owner. Some works need local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
We were going to get a DIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Leeds solicitors on the Bank of Ireland conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Leeds solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Leeds bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Leeds conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. I simply don't know who is right.
The solicitor has to comply with the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Various online forums that I have visited warn that are the primary reason for obstruction in Leeds conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Leeds.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Leeds I like with open areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Leeds in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I am looking into buying my first house which is in Leeds and I am already nervous. I couldn't find anything specific about Leeds. Conveyancing will be needed in due course but do you know about the Leeds area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Leeds. In the meantime here are some basic statistics that we found
In my capacity as executor for the estate of my uncle I am selling a property in Cardiff but live in Leeds. My conveyancer (based 235 miles from mehas requested that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Leeds who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Leeds based