If you wish to buy or sell a property in Leeds, you will need to instruct a trusted conveyancer to assist with the transaction. Compare My Move can match you with up to 5 licensed conveyancing partners and save you up to 70% on your costs.
All of our conveyancing partners are put through a verification process prior to joining us. They must be regulated by the SRA, CLC, LSS, LSNI, or CILEX. Your conveyancer will be responsible for arranging vital searches to inform you of any issues that could affect the property.
It’s important to use the help of a conveyancing solicitor when buying or selling property in Leeds as this involves a lengthy legal process.
In the last year, there were 11,575 existing properties and 345 new builds sold in Leeds, according to the UK House Price Index. Terraced properties rose the most in price, increasing by as much as 15% in June 2021.
As demand and prices increase, it makes it even more vital to hire a conveyancing solicitor to ensure the process is done correctly.
The stages of the conveyancing process include:
Data taken from UK House Price Index
Leeds has an average house price of £227,457. This means that the average conveyancing costs in Leeds for buying a property are £1,320 if freehold and £1,490 if leasehold. If you’re selling a freehold property, you can expect to pay £1,270 for your conveyancing costs and £1,420 for a leasehold property.
Your total conveyancing costs will vary and will depend on a variety of factors. This can include the property type, the location, and how complicated the case is.
Your conveyancing costs will be made up of the solicitor’s legal fee and disbursements. According to Leeds City Council’s website, it’ll cost £75.46 inc VAT for a full Local Authority Search. This is more affordable compared to many other big UK cities.
Data taken from Compare My Move’s Moving House Calculator.
The conveyancing process takes 139 days to complete in Leeds. This is 17 days less than the national average which is 159 days. Conveyancing takes up more than half of the entire process.
The entire process from the day the initial listing is posted to completion day takes approximately 253 days. This is 21 days less than the 274-day national average. Properties do not tend to sit on the market for as long as other regions, meaning that conveyancing takes up the majority of the time.
How long your conveyancing process will take depends on the difficulty of the transaction. For example, leasehold properties require more paperwork. This means that there is a higher chance of delays and time spent on the conveyancing process.
Data taken from Get Agent
Conveyancing searches are a big part of the process and consist of a variety of searches such as the Environmental Search. They reveal important environmental issues that are affecting the property and land.
Leeds has a high flood risk with the chance of flooding each year being greater than 3.3%. The main reason for this is the number of properties situated within close proximity to the River Aire. Despite the risk of flooding due to surface water being fairly high also, Leeds' main risk is from the rivers.
As Leeds has a history of coal mining, ground instability is a big problem for many homeowners. Leeds is very close to a subsidence ‘hotspot’ meaning many properties could be at risk. The Clay Hazard Levels are class A to C. This means that it is unlikely to cause any subsidence-related problems.