My Victoria lawyer has identified a difference between the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My lawyer says that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s approach right?
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 you.
Can I use your services to find a Conveyancing solicitor in Victoria even if I’m not purchasing or selling a house, for instance where I intend to buy a shop in Victoria with a mortgage from Bank of Ireland?
Our comparison service is mainly there to help choose domestic conveyancing solicitors in Victoria but we have listed towards the bottom of this page some Victoria commercial conveyancing firms. You should speak with the solicitors directly to see if they are also authorised to represent Bank of Ireland
I am expecting a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Victoria solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Victoria solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
After shopping around on the internet I have found a Victoria solicitor having checked that they are on the RBS conveyancing panel. Does my lawyer arrange the survey of the property?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Victoria postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Victoria.
Aldermore have agreed my home loan in principle, my offer on a flat in Victoria has been accepted, what happens next?
Your property agent will want to be informed of your lawyer's details (make sure the conveyancing practitioners are on the lender’s panel). Telephone Aldermore or your financial adviser and finish off any relevant forms. Aldermore will appoint a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Aldermore will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Victoria.
I am buying a new build house in Victoria with a loan from Accord Mortgages Ltd. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not reveal to my solicitor about this deal as it would adversely affect my mortgage with Accord Mortgages Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Victoria is the location of the property. Can you shed any light on this issue?
Flying freeholds in Victoria are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Victoria you must be sure that your lawyer goes through the deeds diligently. Your bank 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 residence.