I am getting a mortgage with Lloyds. I hope to retain the legal services of a Licensed Conveyancer in Melbourne. Does the Lloyds Solicitor panel exclude conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We are a couple about to sign contracts for a freehold house in Melbourne. We have hit a stumbling block. Our mortgage offer with Barclays Direct runs out on 1/12/2025 but the sellers are insisting on a completion date of 3/12/2025. Can one prolong the loan expiry date?
The person best placed to deal with your concern is your solicitors who will assess whether he or she is better off negotiating with the mortgage company, owner’s representatives, selling agents or possibly all parties taking into account what has happend in your transaction as of today.
Why do I have to pay up front when it comes to conveyancing in Melbourne?
If you are buying a property in Melbourne your lawyer will ask you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the conveyancing searches. If any deposit is as part of the total price then this will be needed immediately ahead of exchange of contracts. Any further balance that is needed should be transferred a couple of days prior to the completion date.
There are numerous conveyancing solicitors in Melbourne but how do I know who I should use?
We would encourage you not to base your choice on the cheapest Melbourne conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I happen to be the single recipient of my late grandmother’s estate and I have everything in my name now, including the house in Melbourne. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', meaning my property ownership could be considered the same way as though I had purchased the house in August. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. How sensible a view banks take of it, depend on the lender as this obligation is chiefly there to capture the purchase and immediately sell or the wholesaling and assigning of property.
The formalities of my purchase has taken place for my property in Melbourne. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
My wife and I have a terraced Edwardian property in Melbourne. Conveyancing practitioner represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor 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 remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing practitioner who conducted the conveyancing.
I only have Sixty One years remaining on my flat in Melbourne. I need to extend my lease but my landlord is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the freeholder. On the whole a specialist should be helpful to conduct investigations and prepare a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Melbourne.
I am the registered owner of a garden flat in Melbourne, conveyancing formalities finalised in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Melbourne with a long lease are worth £176,000. The ground rent is £50 levied per year. The lease expires on 21st October 2105
With only 80 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.