The housing market in Victoria is heating up. What can I do to expedite matters?
In the event that the seller is applying a tight deadline to exchange it is advisable to make sure that your lawyer is familiar with the area as they will benefit local relationships and intelligence. It is even conceivable that they may have conducted previousproperties in the same street. Therefore consider using a Victoria conveyancing solicitor. Second, double check that the conveyancing firm is on the member panel. It is understood that just under twenty per cent of Victoria conveyancing deals are held up or jeopardised after discovering a buyer’s solicitor was not on their banks list of approved solicitors. In many cases this discovery resulted in the buying process being held up by almost 21 days. It is understood that this issue affects in the region of one hundred thousand home moves every year. Many Victoria conveyancing firms can not act for certain lenders so do check as early as possible.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Victoria. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
If you intend to refinance then Nottingham will insist on your using a conveyancer on the Nottingham 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 Nottingham 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 Nottingham mortgage is registered as a charge at the Land Registry.
Forgive me if this question is silly but I am new to the process as a 1st time purchaser of a garden flat in Victoria. Do I receive the keys to the property on the completion date from my solicitor? If this is the case, I will instruct a High Street conveyancing solicitor in Victoria?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be invited to collect the keys from the property Agents and move into your new home. This tends to happen early afternoon.
How can we tell if a Victoria conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Victoria seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your conveyancing.
Completion of my remortgage has taken place for my property in Victoria. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily 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 with full details of your complaint.
The deeds to my property can not be found. The solicitors who conducted the conveyancing in Victoria 5 years ago have long since closed. What are my options?
In today’s world there are copies made of almost everything, and your solicitor will be aware exactly where to find all the relevant paperwork so you can buy or dispose of your house without a hitch. If duplicates are not available, your lawyer can put in place insurance or indemnities against possible claims on your premises.
I am buying my first flat in Victoria with a mortgage from Leeds Building Society. The builders would not budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my solicitor about this deal as it could jeopardize my loan with Leeds Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Last August I purchased a leasehold house in Victoria. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Victoria. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Victoria conveyancing firm who can help.
An example of a Lease Extension decision for a Victoria premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired residue of the current lease was 56 years.