We are buying a 3 bedroom apartment in Victoria with a mortgage. We like our Victoria conveyancer, however the bank says she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Victoria conveyancing practitioner and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Victoria conveyancing lawyer to apply to be on the conveyancing panel.
Due to move into my new home in Victoria next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These requirements are not unique to conveyancing in Victoria.
It is is a decade since I bought my property in Victoria. Conveyancing solicitors have just been instructed on the sale but I can't track down the deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be retained by your mortgage company or they could still be with the conveyancers who handled the purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Victoria relates to registered property but in the unlikely event that your property is not registered it is more of a problem but is resolvable.
What can a local search reveal about the house I am buying in Victoria?
Victoria conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Searchflow The local search plays an important role in many a Victoria conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am buying a new build flat in Victoria. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Victoria
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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. Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
My brother has recommend that I use his lawyers for conveyancing in Victoria. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to seek guidance from friends or family who have experience in using the conveyancer that you are considering.