Our Trafford Park solicitor has discovered an inconsistency when comparing the information in the home valuation report and what is in the legal papers for the property. My solicitor says that he must check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
As someone clueless as to conveyancing in Trafford Park what is the number one tip you can give me concerning the ownership transfer in Trafford Park
Not many law firms or advisers will tell you this but conveyancing in Trafford Park and elsewhere in Manchester is often a confrontational process. Put another way, when it comes to conveyancing there exists plenty of opportunity for conflict between you and other parties involved in the ownership transfer. E.g., the seller, estate agent and sometimes the lender. Choosing a law firm for your conveyancing in Trafford Park is a critical decision as your conveyancer is your adviser, and is the ONE party in the transaction whose responsibility is to act in your legal interests and to protect you.
Sometimes a potential adversary will attempt to sway you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by claiming that your conveyancer is dragging his heels. Or your mortgage broker may advise you to do something that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Trafford Park. Do I collect the keys to the property on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Trafford Park?
On the day of completion you do not need to go to the conveyancers office in Trafford Park. Your solicitors will transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you will be invited to pick up the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
Intending to buy a apartment in Trafford Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Trafford Park conveyancing practitioner is on the Leeds Building Society conveyancing panel.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Trafford Park solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality 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 Trafford Park postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Trafford Park.
I require quick conveyancing in Trafford Park as I am under a deadline to exchange contracts in less than one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not taking a mortgage you are at liberty not to have searches carried out although no solicitor would recommend that you don't. With plenty of history conveyancing in Trafford Park the following are instances of issues that can be revealed and adversely impact the marketability of the property: Enforcement Notices, Outstanding Charges, Overdue Grants, Road Schemes,...
I opted to have a survey done on a house in Trafford Park ahead of retaining solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will not give a mortgage on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Trafford Park. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Trafford Park to see if the conveyancing will be more expensive.