Why Hire a Leeds Conveyancer?
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 528 existing properties sold in Leeds, according to the UK House Price Index. The demand for property combined with an annual price increase of 10.6%, takes the average property price in Leeds to £234,045. 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:
- Offers agreed
- Conveyancing searches ordered (if buying)
- Liaise with mortgage lender to finalise
- Agree on the completion date
- Check the contract and raise pre-contract enquiries
- Exchange contracts
- Completion day
- Pay any Stamp Duty
Data taken from UK House Price Index
How Much are Conveyancing Solicitor Fees in Leeds?
The average conveyancing costs in Leeds for buying a property are £1,040 if freehold and £1,230 if leasehold. If you’re selling a freehold property, you can expect to pay £1,000 for your conveyancing costs and £1,170 for a leasehold property. This is based on Leeds’ average property price which is £234,045.
Your total conveyancing costs will vary and will depend on the value of the property, location and how complicated the conveyancing process is.
Your conveyancing costs will be made up of the solicitor’s legal fee and disbursements which are fees for third party services such as conveyancing searches. According to Leeds City Council’s website, it’ll cost £72.70 inc VAT for a Local Authority Search, which is more affordable compared to many other big UK cities.
Data taken from Compare My Move’s Moving House Calculator.
How Long Does Conveyancing Take in Leeds?
The conveyancing process takes almost 90 days in Leeds for the sale of a freehold property and 100 days for a leasehold. This is based on the time from offers agreed to completion day for the Yorkshire & the Humber region.
Yorkshire & the Humber is the 6th quickest region in the UK for conveyancing. The UK’s average conveyancing timeline is between 8-12 weeks, but the process varies depending on location, value and the complexity of the case.
Data taken from View My Chain.
What to Expect From Conveyancing Searches in Leeds?
Conveyancing searches make up a big part of the conveyancing process and consist of Local Authority, Environmental and Water and Drainage searches. They will reveal important legal and environmental issues that are affecting the property and land, allowing you to learn before you buy.
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, however, as the Clay Hazards Level in Leeds is only classed as A to C, it is unlikely that the soil beneath the building will be the cause of any subsidence-related problems.
Data taken from UK Flood Risk Map