Our conveyancer has uncovered a a problem with the lease for the property we are buying in Radstock. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
We note that you have a post code search directory listing solicitors on the Lloyds conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Radstock?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Radstock.
Can you point me to a directory of RBS panel solicitors in Radstock on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings viewable on the web. If you are in need of a Radstock conveyancer on the RBS please make the most of our tool.
I currently have a mortgage with Yorkshire BS for my property in Radstock. Conveyancing was finalised months ago. Should I wish 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 Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval before renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies 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 Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel solicitor.
I can not fathom if my lender requires a lease extension. I have telephoned my Radstock building society branch on a couple of occasions and was told it does not affect the mortgage offer and they would lend. My Radstock conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend in accordance with their specific requirements. Who do I believe?
As long as the conveyancer is on the mortgage company panel, they must follow the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Radstock and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business lessees, giving them the right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Radstock
I am four weeks into a freehold purchase having been directed to solicitors by the estate agent to carry out the conveyancing in Radstock. I am am starting to be frustrated with the level of service. Could you help me find new solicitors?
A conveyancer would have to be very poor to suggest diss instructing them. Has the mortgage offer been issued? If so you must advise them of the new contact details and have the offer are issued to the new lawyers. The conveyancer needs to be on the lenders panel to avoid supplemental fees and frustration. That should be your first question of the new conveyancers. Our find a solicitor tool will help you find a bank approved lawyer for your conveyancing in Radstock