In the event thatI was to purchase a freehold housein Victoria mortgage fee and dispense with a survey and no conveyancing searches how much would I expect to to save on my conveyancing in Victoria?
Any savings you would make will be limited to the Victoria conveyancing searches. Your conveyancer is obliged to do the vast majority of work - money laundering, communicating with your vendors conveyancing practitioner, SDLT return, register the ownership etc. You might save a bit for them not having to register a charge however it won't be significant.
Is there a search tool that I can utilise to check that the solicitor handling my conveyancing in Victoria is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus paying £192.00 in additional legal costs.
Feel free to take advantage of the search tool on this site. Pick the lender and type ‘Victoria’ or your location and you will be presented with a number of lawyer located in Victoria or near you.
I have been told that property searches are a common cause of delay in Victoria conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Victoria.
How does conveyancing in Victoria differ for newly converted properties?
Most buyers of new build premises in Victoria contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Victoria typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Victoria or who has acted in the same development.
My brother has encouraged me to use his lawyers for conveyancing in Victoria. Do I follow his guidance?
No doubt the ideal way to find a conveyancing lawyer is to get feedback from friends or relatives who have actually experience in using the solicitor you're are thinking of instructing.
I am soon to exchange buying a house in Victoria but as a consequence of damage from the recent storms I have agreed reparation from the current proprietors of £2k taking the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process however the lender will not permit this. Should they have been approached?
Your conveyancing practitioner being on the mortgage company conveyancing panel is duty bound to disclose to the bank of any changes to the purchase figure. In the event that you prohibit your solicitor to disclose the price change to your lender then they would have no choice but to disinstructing themselves from representing you and the mortgage company.