I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Radstock with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We are getting a further advance on our mortgage from Co-operative as we intend to carry out alterations to our home in Radstock. Do we need to select a high street Radstock solicitor on the Co-operative conveyancing panel to deal with the legals?
Co-operative don't usually instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative conveyancing panel.
I'm in the throws of viewing houses in Radstock and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Kent Reliance.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are obtaining a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Radstock solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Radstock postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Radstock.
We are selling our house in Radstock and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Radstock conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a factory type conveyancing outfit rather than a conveyancing solicitor in Radstock. Having lived in Radstock for 4 years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I'm purchasing my first flat in Radstock with the aid of help to buy. The developers refused to reduce the amount so I negotiated 6k of extras instead. The property agent told me not reveal to my lawyer about this extras as it would adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it best to choose a Radstock conveyancing lawyer based in the area that I am hoping to buy? We have a good friend who can conduct the legal formalities but they are based 400miles drive away.
The primary upside of using a local Radstock conveyancing firm is that you can pop in to sign documents, deliver your identification documents and pester them where appropriate. Having local Radstock know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and they were impressed that must surpass using an unfamiliar Radstock conveyancing lawyer solely due to them being Radstock based.
I am attracted to a couple of flats in Radstock both have in the region of forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Radstock. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field.
Radstock Leasehold Conveyancing - Examples of Questions you should consider before buying
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Generally speaking the outlay for major works tend not to be wrapped into the service charges, albeit that there some managing agents in Radstock obliged tenants to contribute towards a sinking fund created for the specific intention of building a fund for larger works. Is there a share of the freehold? Can you inform me if there are any major works anticipated that will add a premium to the service fees?