I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Common Edge with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?

In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.

How does conveyancing in Common Edge differ for newly converted properties?

Most buyers of new build or newly converted property in Common Edge come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because house builders in Common Edge typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Common Edge or who has acted in the same development.

I decided to have a survey carried out on a house in Common Edge prior to retaining conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some banks may not give a mortgage on such a house.

It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Common Edge. Conveyancing may be slightly more expensive based on your lender's requirements.

Hoping to buy a property located in Common Edge and I am already nervous. I couldn't find anything specific about Common Edge. Conveyancing will be needed in due course but do you know about the Common Edge area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Common Edge. In the meantime here are some basic statistics that we found

I’m about to sell my garden apartment in Common Edge. Conveyancing has not commenced, but I have just received a half-yearly maintenance charge invoice – Do I pay up?

It best that you discharge the invoice as you normally would given that all ground rent and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Common Edge Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Is the freehold owned collectively by the leaseholders? Best to be warned if fixing the lift or some other major work is due in the near future to be shared between the leaseholders and will materially impact the level of the service costs or necessitate a one time payment. You should be aware if it is less than eighty years it will affect the marketability of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably require a lease extension at some point and you need to have some idea of what this will be. For most Common Edgelease extensions you would need to own the property for a couple of years in order to be eligible to extend the lease.