I am buying a right to buy a flat in Peterborough. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?

Leaving aside the complexities and merits of DIY conveyancing in Peterborough you will have to appoint a solicitor on your bank'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 Peterborough.

I am the single recipient of my late mum's will with all property in now in my sole name, including the house in Peterborough. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the property in September. Is the property unsalable for six months?

The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How sensible a view lenders take of it, depend on the lender as this requirement principally exists to capture the purchase and immediately sell or the wholesaling and assigning of properties.

We had selected conveyancing lawyers locally in Peterborough on the UBS solicitor panel. They are now charging me an additional amount for handling the UBS mortgage. Is this a supplemental conveyancing fee specified by UBS?

Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. This fee is not dictated by UBS but by your Peterborough solicitor. Some firms on the UBS panel will quote ’dealing with mortgage’ fee but many practices include it on their overall fee.

I have paid off my mortgage with Lloyds. I assume I don't need a Peterborough conveyancing practitioner on the Lloyds panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Lloyds has sent the Land Registry the discharge electronically, and
3. Lloyds has instructed the Land Registry to do so

I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Peterborough is the location of the property. Is there any advice you can give?

Flying freeholds in Peterborough are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Peterborough you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Peterborough may ascertain 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 property.

My brother has urged me to use his conveyancing solicitors in Peterborough. Should I use them?

There are no two ways about it it’s preferable to choose a conveyancing lawyer is to get referrals from friends or family who have previously instructed the conveyancer that you are considering.

I am attracted to a two maisonettes in Peterborough which have about fifty years unexpired on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena.

I acquired a leasehold flat in Peterborough, conveyancing formalities finalised 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Peterborough with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2105

With only 80 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.