In what way does my ID and proof of funds have anything to do with my conveyancing in Victoria? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Victoria. However these days you will not be able to proceed with any conveyancing deal if you have not handing over proof of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are providing your driving licence as proof of ID it needs to be both the paper section and photo card part, one is not acceptable without the other.
Evidence of the origin of money is mandated in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your conveyancer will need to retain this information on record. Your Victoria conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask additional queries concerning the origin of funds.
Will commercial conveyancing searches reveal planned roadworks that could impact a commercial site in Victoria?
Many commercial conveyancing solicitors in Victoria will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Victoria. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Victoria.
For every commercial conveyancing transaction in Victoria it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Victoria commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Victoria.
I used Stirling Law several years past for my conveyancing in Victoria. I now require my file but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Victoria of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Victoria with a mortgage from TSB. The developers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the extras as it would impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Victoria. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Victoria are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Victoria in which case you should be shopping around for a Victoria conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.