Am I correct in assuming that the fact that my solicitor in Trafford Park is not on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Trafford Park conveyancing practice and enquire why they are no longer on the approved list for your bank.
IfI was to buy a straightforward homein Trafford Park for cash and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Trafford Park?
The only reduction in fees you would make on is the Trafford Park conveyancing searches. A property lawyer is obliged to do the vast majority of work - money laundering, communicating with the vendors conveyancing practitioner, SDLT submission, register the title etc. A slight saving might be made by not having to register a charge however it will not be a lot.
Why do I have to pay up front when it comes to conveyancing in Trafford Park?
If you are buying a property in Trafford Park your lawyer will ask you put them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the purchase price then this should be needed immediately before contracts are exchanged. The final balance that is needed will be payable a few days ahead of the day of completion.
My aunt passed away last year and as sole heir and executor I was left the house in Trafford Park. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Lloyds will insist on your using a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
Various online forums that I have come across warn that are a common cause of stalling in Trafford Park conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Trafford Park.
Are there restrictive covenants that are commonly identified during conveyancing in Trafford Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Trafford Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’