The Victoria conveyancing firm handling our Victoria conveyancing has identified a difference between the assumptions in the home valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Victoria? Is this really necessary?
It is indeed that case that these requests have nothing to do with conveyancing in Victoria. Nowadays you can not proceed with any conveyancing deal without first supplying evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a council tax bill. Remember if you are providing your driving licence as evidence of ID it needs to be both the paper section and photo card part, one is not acceptable in the absence of the other.
Proof of the origin of money is required in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancing solicitor will need to retain this information on file. Your Victoria conveyancing practitioner will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they should also ask additional queries regarding the source of funds.
Are all Victoria Conveyancing Quality Solicitors on the Principality conveyancing panel?
Some major banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
My partner and I have organised a further advance on our home loan from Leeds Building Society as we wish to conduct alterations to our property in Victoria. Do we need to appoint a bricks and mortar Victoria solicitor on the Leeds Building Society conveyancing panel to handle the legals?
Leeds Building Society do not ordinarily appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
I have finally had an offer on an apartment in Victoria agreed to, but there is a chain. The vendors have put an offer on a property, but it’s not yet tied up, and have viewings of other properties booked. I have selected a bricks and mortar conveyancing solicitor in Victoria. What should be my next step? At what point do I apply for the mortgage with Coventry BS?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Victoria conveyancing search costs, etc). The first thing to do is ensure that your conveyancing practitioner is on the Coventry BS conveyancing panel. As to the subsequent stages this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. During a buoyant market the majority of purchasers will apply for a home loan with Coventry BS and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with the conveyancing in Victoria.
Should commercial conveyancing searches reveal impending roadworks that may impact a commercial land in Victoria?
Many commercial conveyancing solicitors in Victoria will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Victoria. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Victoria.
For each commercial conveyancing transaction in Victoria it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Victoria commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Victoria.
Are there restrictive covenants that are commonly picked up during conveyancing in Victoria?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Victoria. 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…’
Back In 2009, I bought a leasehold flat in Victoria. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Victoria who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Victoria conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a ground floor flat in Victoria. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Victoria conveyancing firm who can help.
An example of a Lease Extension decision for a Victoria residence 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 affected 2 flats. The remaining number of years on the lease was 56 years.