conveyancing sydney

The Conveyancing Process during Remortgaging of Property

The Conveyancing Process during Remortgaging of Property

People may encounter a reason to remortgage their property due to the state of finance or other essential reasons. But when you need to remortgage a property, it may involve some conveyancing processes. How do you deal with the conveyancing processes? What does it mean to you as a seller or buyer? Your current deal on a property may have ceased, or your home value has gone up. In some cases, you may want better money on borrowing terms. 

In any of the abovementioned cases, you may remortgage your property. This article will analyze what remortgaging a property means and how conveyancing comes into play. Let us start by helping you understand the remortgaging process as a whole. 

Understanding the remortgaging process

Remortgaging is when you switch from a current mortgage deal to another with the same or different mortgage provider. You can work with another mortgage plan with the same provider of the existing mortgage or enter into another mortgage with another lender. The amount you repay is often transferred to another mortgage policy, especially if you have a different lender. Click here for the about payment for conveyancing.

A remortgage process is one where you change your existing mortgage property to another for the same property. If you are taking up a new mortgage from the same lender, say a bank, it may be taken as a property transfer from one person to another. You may not need to do any new legal paperwork in this case. However, when you are undertaking residential conveyancing, it may apply to switch to a different lender.

If you are switching lenders from one person to another, you will need the services of a conveyancer. This professional will carry out all the necessary checks and processes of property ownership transfer. Unlike the initial process of simply buying the property, conveyancing, in this case, takes much less time, taking only about three weeks to complete. What documents do you need to prepare before meeting with a conveyancer?

Documents you need for conveyancing

You are closer to your goal when you identify the right conveyancer to work with. After then, you need to be sure that the business of your professional is on the lender’s list of approved conveyancers. Otherwise, the lender may have some reservations about working with him. You also need to gather all the documents required to achieve your work quality. 

Gathering these document can also further prove your identity and helps you to pay off all the mortgage debt that may be outstanding. However, it allows you to provide the proper proof of funds to establish that you are not involved with any criminal activity. Some of the notable documents include the following:

  1. Proof of identification

The proof of identification may include an international passport, driver’s license or proof of address. The latter may consist of a utility bill or a council tax bill, where all the documents will be run through an online ID checking system to validate them. 

  1. Proof of Income Sources

You need to present the documents that can serve as proof of income sources to prevent money laundering. It involves checking the head of funds you use as a deposit for the mortgage loan. Some of the documents you need to provide in this regard may depend on your primary source of income, which may include

  • Savings. You must present your bank statements for a certain period if you earn from savings. This statement must show the accumulated funds over a set period.
  • Property sales. If you earn from a property sale, you may need to provide a copy of the sale completion of that property. In addition, you will provide a bank statement showing the receipt of funds and the name of the conveyancer who handled that property sale.
  • Pension. If your earnings are from a pension, you will need to provide a letter of confirmation from your pension fund manager. 
  • Inheritance. You must confirm with the will’s executors if your income source is an inheritance. This document must show you as a beneficiary and indicate the amount of money or value of the property you were left with. In addition, you will need to provide a copy of the bank statement that shows the receipt of the funds in question and for the set period. 

The Remaining Remortgaging Process

When you prepare all the needed documents, the conveyancer or the professional solicitor can proceed with the rest of the procedures. Below are some of the essential steps the conveyancer takes

  1. At this stage, your mortgage provider makes all the mortgage certificates available with the details of the outstanding amount on the property.
  2. The new lender issues a formal remortgaging offer stating the amount, the duration of the mortgage and the rest of the amount you need to pay.
  3. Another step is the search in the local authority or takes an indemnity insurance
  4. You also need to provide bankruptcy checks that p[roves that you are not bankrupt
  5. A certificate title to the new lender for the latest mortgage
  6. The next step is to complete the remortgaging process, where the conveyancer now gets the money from the new lender. Then the conveyancer pays off the outstanding amount on the initial mortgage. But if you increase your loan, you will get your surplus amount back.
  7. Finally, the conveyancer completes the conveyancing process by updating the registry on the new charges with the property’s official title deeds at the land registry. This process takes up to several months. 


There may be millions of reasons why anyone may need to do a remortgage of their property. But the centre of focus in this article is how to complete the related conveyancing with this process. If you are using the exact lender as before for your initial mortgage as your new mortgage, you will not require any new legal work. But if you have to use another lender for the latest mortgage, then be ready to do some paperwork for the conveyancing and get a service provider. Do you need a professional conveyancer to handle your conveyancing during remortgaging? Contact us today for top-notch conveyancing services. 

The Truth about Payment for Conveyancing

The Truth about Payment for Conveyancing

Conveyancing fees are essential to achieve the desired results, mainly to keep the legal side intact. A conveyancer also ensures that he handles the entire home purchase process smoothly and correctly. There are two groups of few during the conveyancing process. They are the legal fees and the disbursements. On the one hand, the legal fees are what the conveyancer or professional solicitor charges you for their services. 

On the other hand, disbursements refer to what the third parties require you to pay for additional services, such as searches. As for conveyancing, there are many factors to consider to get the best results. For example, you should pick the right conveyancer with an exemplary reputation to work with and who will give you minor problems. Another critical factor in getting the home purchase done is to set a clear goal and be transparent for the best market results.  Learn more what is conveyancing?

What are conveyancing fees?

Many factors determine the conveyancing fees that professional charges you. An example is a location from which you need the service. As for the location, you will need to pay extra costs if you need the conveyancer to conduct research. Otherwise, you may want to conduct your search and arrive at a property you desire before you involve a conveyancer. Suppose the property you identify is near features like a coal mine or a river. In that case, it may cost some extra funds to the conveyancer. 

How much do you pay for conveyancing legal fees?

As stated, the legal fees are the total money you pay for the legal side of the conveyancing. It includes the preparation of all the legal papers and other activities. It also consists of the expenses incurred by the professional solicitor. These fees may vary depending on the location and the real estate laws; home buyers may pay less or more. However, a typical range will fall between 1500 to 2700 AUD without including the cost of disbursements. Meanwhile, there may be legal fees when considering a leasehold property.

What are the core disbursements?

Some of the disbursements that a potential home buyer may encounter include the following

  • Anti-money laundering checks. The solicitor must conduct background checks on the potential buyer, including identity verification. So, you may need to pay extra if you live abroad or are a foreign national. It will take an effort to verify the necessary details.
  • Title deeds. A seller will need to provide a copy of the title deeds before he can sell the property. At the same time, the cost of a leasehold property may e a little higher than a freehold property. But in all, the title deed is one of the items you pay for under the disbursement fees.
  • Searches. The search is one of the items you pay for when preparing for the conveyancing process. You need to conduct the local authority to search for the property, which will attract some cost. The search item will cover an environmental search, a drainage system search and a planning search. The search cost depends on how much work the professional solicitor will do when searching. 
  • Property fraud. In rare cases, you will need to prevent any possibility of committing fraud on a property. So, before you even send the money to the seller, you need to cross all the t’s and dot all the i’s. You should commit your legal team to check on the integrity and authenticity of the selling company or individual receiving the payment.
  • Transferring ownership. The final stage of the conveyancing, the last item you spend on, is the actual property transfer. You may need to pay the Land Registry for this activity the cost of the ownership transfer. This cost is determined by the house’s value but does not usually exceed a few hundred dollars. 

Some other disbursement fees you may be requested to pay to include the Help to Buy supplement, stamp duty land tax, gifted deposits, and others. If you also have a reputable conveyancer, you can be confident that all your needs have been covered. Moreover, you can be sure not to face any need to pay an extra fee.

When are the Conveyancing fees due?

Conveyancing requires that you plan everything you need to with the help of a professional solicitor or conveyancer. However, you may need to pay a deposit to the conveyancer to obtain their services and kickstart the process. In addition to the basic charges, the conveyancer may add an extra 10% to protect their interest while the conveyancing continues. In the end, you will settle the rest of the fees after completing the home purchase. 

However, in the course of conveyancing, don’t be surprised if you have to pay other fees, such as searching, unless you do it yourself. In all, the conveyancing process is smoother and less stressful when you have a professional working on your behalf to get things done right. Moreover, a conveyancer protects your interest under every condition to overcome complexity. But it also means that you need to hire a credible solicitor.

Conclusion on Conveyancing Payments

Choose a professional to handle your conveyancing, and you can be sure not to pay any extra. Moreover, you can be assured that you will understand every single payment you make, and it will contribute to the smooth closure of your deal. Otherwise, one may encounter many complications during the home purchase. Conveyancing makes it easy for home buyers to enjoy the best possible fees and a smooth paperwork run. Ultimately, we will have a smooth workflow for both buyers and sellers. If you encounter any difficulty, you can get in touch with us. We will be glad to render all the help we can. We have a good hold on the real estate market in Australia and the necessary steps in the conveyancing process. You can even request a quote on the conveyancing.

What is Conveyancing? A Guide for First-time Buyers

What is Conveyancing? A Guide for First-time Buyers

In simple terms, conveyancing is a legal process by which a bought property is transferred to the rightful owner from the hands of the seller. This process follows accepting the bid for the property and signing all the necessary papers. It may take between a period of four weeks and two months before the property leaves the hand of the seller to the hands of the buyer. 

When you submit an offer for a property, and the seller accepts it, it is normal to feel a sense of relief. But the job is not yet done – as a matter of fact; it is just the beginning of the conveyancing process. It takes no long walk from the time of acceptance of an offer to the actual handling of the property keys from the seller to the buyer. Both parties have some hurdles to cross. 

Why is conveyancing necessary?

Conveyancing is the pathway that is followed to achieve this result of new ownership of property. It is the legal pathway that a buyer and seller must follow for one to hand over the property to the other. Many times, the professional mediator in such a deal is known as a conveyancer, and you need to follow some smooth steps to achieve a perfect result and a successful deal. 

What is Conveyancing? A Guide for First-time Buyers

Conveyancing protects the buyer against any surprises from the seller in the future. It ensures that all the potential issues are guided even before the buyer lays the money down for the purchase. Below is a comprehensive step-by-step procedure for conveyancing. 

On the other hand, the buyers are also protected in that they can be in the best position under every ideal ownership condition. Moreover, when the services of a conveyancer are employed in the real estate transaction, it allows both parties to hand off all the other legalities and obligations of the property.

The process of conveyancing

A conveyancer is responsible for many things in the property transfer process, which are central to both parties. Again, due to the capital involved, you want to ensure that the actual conveyance will take place. Naturally, anyone wants to understand the status of the ongoing deal. Still, they may not get the correct information from the right source. Sources include mortgage providers and the land registry. In the digital age of conveyancers., they have mobile apps that help them track the progress of the conveyancing process without a physical meeting for updates. In summary, the conveyancing process involves the following

  1. You get a request for some paperwork from your conveyancer as proof of identification and bank details. The paperwork may also request some more information about the property
  2. The second stage involves the conveyancer liaising with the solicitor of the seller to receive the contract pack for the buyer to sign
  3. As for the copy of your mortgage offer to pay off the loan, the conveyancer will relate with your mortgage advisor or mortgage bank
  1. The next step is for the conveyancer to conduct local authority searches for the property. While requesting from the local authority, they may divulge some information about the property under review or the land of the property if there are issues with the locality or the proximity to any significant structure, such as a chemical plant or planned building project. It’s a conveyancer’s job to analyze reports and decide whether to proceed or not. If the authority notices that there will be a detrimental impact, the process may not proceed. In other cases, the property owner may need some extra insurance against some specific potential issues. All the same, you need a conveyancer.
  2. Your conveyancer arranges a potential completion date for your proposed project that is comfortable for both parties. This agreement is essential to ensure that you all are on the same goal.
  3. It is time to sign the contracts. Both parties will swap their copies of the signed agreements when you finish signing. The buyer will send his deposit to the conveyancer, who will transfer it to the seller conveyancer. 
  4. Following the signing, there should be a completion statement and the transfer deeds for the buyer to complete. Afterwards, the transfer is done to the seller’s conveyancer.
  5. At this stage, the agreement may include a mortgage payment from the lender and transfer any purchase balance back to the seller’s conveyancer. 
  6. After the sale, the conveyancing is not complete until the conveyancer submits a tax return and pays the stamp duty. These payments may carry different names from one province to another. All the combined documents are also forwarded to the Land Registry as the transfer of ownership is complete. Moreover, each party will be able to reconcile all the records and details across all ends.


Conveyancing, in itself, may not be a visible process to all. But the buyers and the seller must stay on track to achieve all their goals. At the end of all the paperwork, there may be further clarifications from the local authorities, land registry, mortgage lenders or even any seller’s conveyance team.

What is the cost of conveyance?

You should learn how to think of discussion work regarding the project’s total cost; it will require some schemes. In addition, the pricing of this project is. Meanwhile, the average cost of a conveyancer reaches an average of 1500 GBP, including all other disbursement bits without e-stamp duty. Sometimes, you may benefit from asking your seller for his opinion on the property deal. 

Conclusion – How can you find a good conveyancer?

You are the first person to begin the process of finding a good conveyancer for your property. Start by searching online for the one with the best reviews. You can also talk to your financial advisor about what is best to do.