Me and my partner are buying a 1 bedroom flat in Victoria with a mortgage. We like our Victoria conveyancer, but the mortgage company advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Victoria lawyer and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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.
We are approaching an exchange on a house in Victoria and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has not come from me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your property lawyer is duty bound to check with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
The Victoria conveyancing solicitors that I recently instructed on my house acquisition in Victoria have without warning closed. They were on acting for me because I needed a firm on the Skipton conveyancing panel and my preferred Victoria lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
My wife and I have a 4 bedroom Victorian house in Victoria. Conveyancing solicitor represented me and Godiva Mortgages Ltd. 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 matching address. 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 for 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 Victoria and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who carried out the work.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Victoria is the location of the property. Can you shed any light on this issue?
Flying freeholds in Victoria are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Victoria you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Victoria may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I acquired a property in Victoria last 27/2/2024 and to date it is still not recorded with HM Land Registry. It was part of a new estate and my conveyancing practitioner told me that it can take twelve months to register. I have called HM Land Registry directly and they have informed me the original application was cancelled due to failure to reply to requisitions. What can I do?
Call your conveyancing practitioner - if you are not getting sensible responses, enquire as to their firm’s complaints protocol and amplify your concerns to a Complaints Manager. Registrations for Victoria conveyancing are not known to be especially complex.