I am purchasing a right to buy a flat in Somerstown. Can I do my own conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Somerstown you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Somerstown.

This question may be naive but I am wet behind the ears as a 1st time purchaser of a garden flat in Somerstown. Do I pick up the keys to the premises on completion from my solicitor? If so, I will find a High Street conveyancing solicitor in Somerstown?

On the day of completion you do not need to attend the conveyancers office in Somerstown. Your solicitors will transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you will be invited to receive the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.

I am buying a property in Somerstown. One unusual aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As you are obtaining a mortgage with Principality your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease fails to meet these conditions. The provisions relate to the installation of panels on properties nationwide and is not limited to Somerstown.

It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Somerstown bank branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My Somerstown conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their specific requirements. Who do I believe?

The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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.

How does conveyancing in Somerstown differ for newly converted properties?

Most buyers of new build property in Somerstown approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Somerstown usually 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 used to new build conveyancing in Somerstown or who has acted in the same development.

How does the Landlord & Tenant Act 1954 affect my commercial property in Somerstown and how can you help?

The 1954 Act provides security of tenure to business lessees, giving them the right to make a request to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Somerstown is one of the hundreds of locations in which the firms we work with have offices

Me and my wife have agreed a price on a Somerstown ground floor flat left to us seven years ago in 2010. I have over a decades worth of conveyancing experience and, now retired, see no reason not to carry out the conveyancing. The buyer's conveyancer has informed me that their building society will not allow you to do your own conveyancing requiring the funds to be passed via a solicitor's bank account.

Mortgage instructions to solicitors from all CML members state that If the vendor is not legally represented the buyer’s lawyers should check whether the bank needs to be told so that a decision can be reached if they are willing to progress.