Our Trafford Park solicitor has spotted a difference when comparing the assumptions in the valuation survey and what is in the legal papers for the property. My solicitor says that he is obliged to check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
We wanted to use a conveyancing solicitor in Trafford Park for our home move. Our broker informed us that our mortgage lenders Santander won't deal with them. Surely this is unfair competition?
A decade ago most banks had a different appetite for risk. Almost all Trafford Park conveyancing firms would have been on most lender panels. The FSA in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms regarding their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum number of transactions. Many Trafford Park conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Trafford Park is one of the numerous locations where the solicitors we recommend are on the panel for Santander.
I have paid off my mortgage with TSB. I assume I don't need a Trafford Park property lawyer on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Trafford Park off the council. I have a mortgage agreed with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
The formalities of my remortgage has taken place for my property in Trafford Park. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are sorted out very quickly. If you feel 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.
Will my conveyancer be raising enquiries regarding flooding as part of the conveyancing in Trafford Park.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Trafford Park. Some people will acquire a property in Trafford Park, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Trafford Park. The standard information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to discover whether the property has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the vendor, then a purchaser may bring a compensation claim as a result of such an misleading reply. A buyer’s lawyers should also order an environmental search. This will higlight whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
We're FTB’s - agreed a price, but the agent has warned us that the owners will only go ahead if we appoint the agent's recommended solicitors as they want a ‘quick sale’. We would rather use a high street solicitor used to conveyancing in Trafford Park
It is improbable the vendors are driving this. If they desire ‘a quick sale', alienating a serious purchaser is not the way to achieve this. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your own,trusted Trafford Park conveyancing lawyers - not the ones that will earn the negotiator at the agency a commission or meet his conveyancing targets set by senior management.