The Trafford Park conveyancing firm handling our Trafford Park conveyancing has discovered a difference when comparing the information in the valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance right?
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 you.
Finally the sale completed on my house in Trafford Park last October yet the purchaser is telephoning every few hours complaining that their solicitor is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your house sale your conveyancer should send the transfer deeds and all additional paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer should also confirm that the home loan has been discharged to the purchasers lawyers. There are no post completion tasks just for conveyancing in Trafford Park.
We are selling our home in Trafford Park. Does my solicitor need to be required to be on the Clydesdale conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale 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 specifications fairly frequently currently.
Is it correct that all Trafford Park CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing panel?
Some major lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
I have instructed a Trafford Park solicitor having made sure that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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. You may wish to consider appointing your own Trafford Park surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Our offer on a property in Trafford Park has been agreed to, the sellers do nevertheless have a connected purchase. The sellers have offered on a flat, however it’s not been accepted yet, and have viewings of other properties booked. I have selected a bricks and mortar conveyancing solicitor in Trafford Park. What do I do now? At what stage should I apply for the mortgage with Lloyds?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of £1k, then valuation, Trafford Park conveyancing search charges, etc). The first course of action is to check that your solicitor is on the Lloyds approved list. Regarding the subsequent stages this very much depends on the circumstances of your transaction, motivation for this property and on the state of the market. In a hot market some home buyers will apply for a home loan with Lloyds and pay for the valuation and only if it was satisfactory would they pay their solicitor to press on with searches.
How can the Landlord & Tenant Act 1954 impact my commercial premises in Trafford Park and how can you help?
The 1954 Act affords security of tenure to business tenants, granting the legal entitlement to make a request to court for a renewal lease and remain in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Trafford Park
Do I cancel my mortgage payments with Nationwide once a completion date for my sale in Trafford Park has been agreed?
You would be well advised to maintain meeting any mortgage sums to Nationwide pending the mortgage being paid off out of the proceeds of sale as part of your Trafford Park conveyancing.