My wife and I are looking to buy a home in Radstock and are in fact using a Radstock conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bank of Ireland have this morning contacted us to inform me that there is now an issue as our Radstock solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Radstock lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I moved into my house on 3 January and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Radstock expressed confidence that it will be concluded inside ten days. Are properties in Radstock particularly slow to register?
As far as conveyancing in Radstock registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timeframes can adjust according to the party submitting the application, whether there are errors and whether the Land registry must send notices to any interested parties. Currently roughly 80% of such applications are fully dealt with within two weeks but occasionally there can be extensive delays. Registration takes place once the purchaser has moved in to the premises therefore 'speed' is not usually primary concern yet if there is a degree of urgency associated with the registration then you or your solicitor must speak with the land registry and explain the circumstances.
I'm buying a new build house in Radstock with a loan from Barclays Direct. The builders refused to reduce the price so I negotiated 6k of additionals instead. The property agent told me not disclose to my solicitor about the side-deal as it may adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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 CML website. CML 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.
I am looking for a flat up to £235,500 and identified one close by in Radstock I like with amenity areas and station nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Radstock in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Am I better off to go with a Radstock conveyancing practitioner based in the location that I am hoping to buy? I have an old university friend who can deal with the conveyancing but her office is a couple of hundredkilometers away.
The primary upside of using a local Radstock conveyancing practice is that you can attend the office to execute documents, deliver your ID and apply pressure on them where appropriate. Having local Radstock know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that must trump using an unknown Radstock conveyancing solicitor just because they are round the corner.
I recently found out that one of the partners of the law firm acting on the purchase conveyancing in Radstock is a relative of the owners that we are buying from. Is this acceptable?
Provided there is no conflict of interest this is allowable. If you are obtaining a home loan then the lender may have a say as many lenders have specific instructions on this. For example for Barclays plc as of 21/4/2025, the requirements read as follows :