The Leicester conveyancing firm handling our Leicester conveyancing has uncovered a difference when comparing the information in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?

Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Can you explain why leasehold purchase conveyancing in Leicester is more expensive?

In short, leasehold conveyancing in Leicester and Leicestershire usually warrants extra due diligence compared to freehold conveyancing. This includes analysing the lease terms, corresponding with the landlord about serving applicable notices, obtaining up-to-date service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.

What is the difference between a licensed conveyancer and conveyancing solicitor in Leicester

Two types of professional can carry out conveyancing in Leicester namely CLC regulated conveyancers or solicitors. Both professionals provide the legal services that required to complete the sale or acquisition of property. Both are duty bound to perform Leicester conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be professionally carried out and that all requisite steps should be accurately followed.

I have a mortgage with HSBC for my property in Leicester. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?

Your original mortgage agreement with HSBC will provide that you need their approval prior to letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel lawyer.

Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Leicester solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?

Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Leicester postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Leicester.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Leicester is the location of the property. Can you offer any guidance?

Flying freeholds in Leicester are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Leicester you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leicester may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

Can you provide any top tips for leasehold conveyancing in Leicester with the aim of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Leicester can be reduced if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Some Leicester leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.

Leicester Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Is anyone aware of any major works on the horizon that will increase the maintenance charges? The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this situation the lessees enjoy control and even though a managing agent is usually retained where the building is bigger than a house conversion, the managing agent retained by the leaseholders. Who are the managing agents?