We are planning to purchase a 3 bedroom apartment in Radstock with a mortgage. We like our Radstock lawyer, but the bank says he's not on their "panel". It appears that we have no option but to instruct one of the lender panel firms or retain our Radstock lawyer and pay for one of their panel ones to act for them. We feel that this is unjust; are we not able to insist that the bank use our Radstock property lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Radstock conveyancing lawyer to apply to be on the conveyancing panel.
Can you point me to a directory of Lloyds panel conveyancers in Radstock on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings visible online. If you are seeking to appoint a Radstock lawyer on the Lloyds please use our facility.
The mortgage over my property is with Clydesdale for my property in Radstock. Conveyancing has been completed some time ago. If I am intending 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 Clydesdale?
Clydesdale must be informed of your intention prior to renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale 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 Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel solicitor.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Radstock building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Radstock conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their specific requirements. I have no idea who is right.
Your conveyancing practitioner must follow the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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.
What will a local search reveal concerning the property we're purchasing in Radstock?
Radstock conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search plays a central part in most Radstock conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
What tools are available to search for a Radstock law firm on the Barclays conveyancing panel? I have a car and am happy to travel upto 10miles to meet the lawyer.
You can use the facility on this website. Please choose the mortgage company and your location and you will see a number of Radstock conveyancing lawyers based on proximity. We have detailed some Radstock conveyancing firms at the bottom of this page and you can contact them to see whether they are on the Barclays approved list
My uncle has recommend that I use his lawyers for conveyancing in Radstock. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing lawyer is to seek referrals from friends or relatives who have experience in using the firm that you are considering.