We are acquiring a new build flat in Radstock and my lawyer is telling me that she is duty bound to the mortgage company to disclose incentives from the seller. I am on a tight deadline to exchange contracts and I don't want to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can I use your services to recommend a Conveyancing solicitor in Radstock even where I’m not buying or selling a house, for instance if I wish to acquire an office in Radstock with a loan from Nationwide Building Society?
Our comparison service is predominantly utilised to get a quote from domestic conveyancing solicitors in Radstock but we have set out at the bottom of this page some Radstock commercial conveyancing firms. You should speak with the company directly to check if they are also authorised to represent Nationwide Building Society
A friend pointed out to me me that in buying a property in Radstock there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Radstock which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Radstock should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the only recipient of my late mum's estate with all property in now in my sole name, including the house in Radstock. The Radstock property was put into my name in November. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the property in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this obligation chiefly exists to capture the purchase and immediately sell or the quick reselling of properties.
is it true that all Radstock solicitors on the TSB conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the TSB conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.
Various online forums that I have frequented warn that are the main reason for delay in Radstock house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Radstock.
My boyfriend is purchasing a ground floor flat in Radstock. He has received a fee estimate by the solicitor recommended by the estate agents totaling £1385 . It was eight years ago I sold and purchased a house and the fee was £600. Have costs really escalated to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Radstock searches, land registry fees, etc)