Why might you need a mortgage solicitor in London for a self-build?

Sketch of a home design

Building a new home can give someone a unique space that fits their needs perfectly in the way that an established property may not be able to.

A mortgage solicitor in London, like Saracens Solicitors, can be helpful when undertaking a self-build project. There are several points where legal agreements need to be made and the help of an expert team always increases the chances of a smooth process.

Land searches

Buying land is the first transaction that usually takes places during a self-build. Some people buy a property, demolish it and then use the land to build on. In this is the case, they would utilise a mortgage solicitor in London for conveyancing in the normal way.

Even if land does not already contain a property, land searches still need to be done to ensure that the current owner has the right to sell. Searches can also reveal any covenants that exist for the plot which prevent certain types of activity or require others. A good example might be if a property contains a cemetery. There is often a covenant in place for such places that stipulates the land must be maintained and no earthworks can take place there.

Section 106 agreements

For the self-builder, it is important that they familiarise themselves with the latest updates on section 106 agreements in their area as the law is not clear cut or consistent in this regard. A mortgage solicitor in London can provide advice.

Essentially, section 106 agreements are financial levies applied to a build in order to mitigate the impact of the project on the local area. They are usually made with commercial companies or large scale residential builds. In 2014, self-builders were exempt from such obligations. The exemption was overturned in 2015 and subsequently reintroduced in some areas later on. Now, there is countrywide variety when it comes to the application of section 106 agreements. It is worthwhile for a self-builder to check before starting their project. Some sites even advise that, if an area is going to apply section 106 obligations, the builder should wait for further clarification and hopefully exemption as the case plays out because the costs can be substantial.