My Melbourne lawyer has identified a difference between the surveyor’s assumptions in the home valuation survey and what is in the title deeds. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s course or action appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements 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.
This question may be naive but I am unexperienced as FTB of a garden flat in Melbourne. Do I receive the keys to the property on completion from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Melbourne?
On the day of completion you do not need to attend the conveyancers office in Melbourne. Your solicitors will electronically transfer the completion advance to the vendor’s conveyancers, and once they have received this, you will be invited to receive the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Melbourne building society branch on numerous occasions and was told it wasn't a problem and they will lend. My Melbourne conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their specific requirements. I simply don't know who is right.
Provided that the conveyancing practitioner is on the lender panel, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Principality have agreed my mortgage in principle, my bid on a house in Melbourne has been accepted, what are the next steps?
Your property agent will want to be informed of your solicitor's details (ensure that the solicitors are on the bank’s panel). Telephone Principality or the broker and finish off any relevant forms. Principality will sellect a valuer who will get in touch with the selling agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Principality will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Melbourne.
Me and my brother own a renovated Georgian property in Melbourne. Conveyancing lawyer acted for me and Santander. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Melbourne and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing lawyer who conducted the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Melbourne. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Melbourne
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
How do I locate a Melbourne law firm on the Barclays conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the conveyancer.
Feel free to make use of the tool on this page. Please pick a lender and your location and you will see a number of Melbourne conveyancing lawyers based on proximity. We have listed some Melbourne conveyancing firms at the bottom of this page and you can ring them to see whether they are on the Barclays member panel
I am a negotiator for a long established estate agent office in Melbourne where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Melbourne conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Melbourne Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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The answer will be helpful as a) areas could result in problems for the building as the common areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will want to know about it Plenty Melbourne leasehold apartments will be liable to pay a service bill for the upkeep of the building set on behalf of the management company. Where you buy the property you will have to meet this liability, normally periodically accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge to be met yearly, normally this is not a significant sum, say approximately £25-£75 but you need to check it because sometimes it could be surprisingly expensive.