Me and my partner are buying a 1 bedroom flat in Radyr with a mortgage. We wish to retain our Radyr solicitor, however the bank advise he's not on their "panel". It appears that we have little option but to appoint one of the mortgage company panel conveyancing practices or retain our Radyr conveyancing practitioner as well as pay for one of their panel firms to act for them. This feels very unfair; can we not demand that the mortgage company use our Radyr conveyancer ?
Unfortunately,no. 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 Radyr conveyancing lawyer to apply to be on the conveyancing panel.
My house in Radyr is up for sale and I have a buyer. Does the solicitor have to be on the Nottingham conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Last month we had a mortgage agreed in principle with Skipton. Radyr conveyancing lawyers were selected. How long does it take for Skipton to send the offer to the solicitor?
Some lenders take longer than others. Have Skipton done the survey? Have you advised Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The formalities of my remortgage has taken place for my property in Radyr. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Skipton have agreed my mortgage in principle, my offer on a flat in Radyr has been agreed to, what happens next?
Your property agent will need to know who your solicitors are (make sure the solicitors are on the lender’s approved list). Contact Skipton or your broker and complete any appropriate paperwork. Skipton will instruct a valuer who will get in contact with the estate agent or vendor to schedule a time for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight to receive the mortgage offer. Skipton will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Radyr.
I am purchasing my first flat in Radyr benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my solicitor about the deal as it would impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 ground for flat up to £245,000 and identified one close by in Radyr I like with a park and railway links in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Radyr suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months 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 existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
What does commercial conveyancing in Radyr cover?
Radyr conveyancing for business premises incorporates a wide array of guidance, supplied by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.