Bond registration & cancellation

Vetting help to switch your bond to another bank

Verify a conveyancer for your bond switch: check their recent track record, confirm they know your new bank's process, and request proof of professional standing.

Many people switching their bond assume their bank will handle the legal side smoothly, then discover halfway through that their chosen conveyancer hasn't formally confirmed the cancellation timeline with the current lender or the new bank's requirements. This gap—between what you think is happening and what's actually being actioned—costs weeks and can trigger penalty interest charges you didn't anticipate.

When you're moving your bond to another bank, the conveyancer (bond attorney) you hire does the legal footwork: they lodge the cancellation with your current lender, arrange the new bond registration with the new bank, and coordinate between all parties. The stakes are real—a slow conveyancer can leave your old bond running longer than necessary, eating into your savings. But how do you know before you hire them that they'll actually move at the pace your banks need?

Verify their recent bond switching track record

Don't ask a conveyancer if they "do" bond switches—almost all of them do. Instead, ask for the names and contact numbers of three clients from the last six months who switched their bond to a different bank. When you ring those referees, be specific: ask them how quickly the conveyancer confirmed the cancellation date with the old lender, whether there were any delays waiting for paperwork from the new bank, and whether the cancellation was processed before penalty interest kicked in.

While you're on the phone with a referee, ask them one practical question: "Did the conveyancer proactively tell you what was happening each week, or did you have to chase them?" This tells you whether they manage communication or whether you'll spend your time chasing updates. A conveyancer who regularly handles bond switches will have systems in place to track timelines and flag hold-ups early.

Check they understand your new bank's specific process

Banks have different requirements and turnaround times. Some process cancellations within days; others take longer. Before you formally appoint a conveyancer, ask them to confirm in writing that they have handled bonds with your new lender in the past three months and know their current approval timeline for a new bond registration.

You can also contact your new bank's bond originator (the person handling your new loan application) and ask them for a list of conveyancers they work with regularly. Banks often have preferred conveyancers because they've learned which ones move fast and submit documents correctly the first time. This doesn't mean you must use them, but it's valuable intel: a conveyancer on a bank's preferred list has proved they can meet that bank's pace.

Check that the conveyancer will liaise directly with both your current and new lender on your behalf. Ask them to walk you through their process: when they'll lodge the cancellation, when they'll apply for the new bond registration, and at what point you'll receive written confirmation that both steps are complete. If they can't or won't explain this sequence clearly upfront, that's a red flag.

Request proof of professional standing and insurance

Ask to see their practising licence (proof they're registered as a conveyancer with the appropriate legal body) and their professional indemnity insurance certificate. You're not expected to be an expert in legal credentials, but you can verify the licence number with the relevant professional body if you want to be thorough.

Ask how long they've been practising conveyancing and specifically how many bond switches (not just bond registrations) they've handled in the last year. A conveyancer who does five bond switches a month has more muscle memory than one who does five a year.

The goal here is simple: you're hiring someone to protect your timing and money. A verified conveyancer with recent experience switching bonds, clear communication habits, and current professional credentials is far less likely to let your cancellation languish or miss a bank deadline. When you're ready to move forward, searching for vetted conveyancers on Strove lets you see their qualifications and read feedback from others who've switched their bonds—so you can start your phone calls to referees already confident you've narrowed to providers with real track records.

Common questions

What's the biggest mistake people make when hiring someone to help switch their bond?: Assuming their bank will manage the legal side or trusting a conveyancer without confirming they've recently handled bond switches with that specific bank. This gap between assumption and action often causes delays and unexpected penalty interest charges. Always ask for recent client references and confirm they know your new lender's process.
Should I use a conveyancer my new bank recommends?: It's worth listening to your new bank's suggestions—they work regularly with conveyancers and know which ones meet their timelines. However, you're not obligated to use them. If you choose someone else, confirm they've handled bonds with that bank recently so you know they understand the process.
What should I ask a conveyancer's referee?: Ask how quickly the conveyancer confirmed the cancellation date with the old lender, whether there were delays, and whether cancellation was processed before penalty interest accrued. Also ask whether the conveyancer communicated proactively each week or whether they had to chase for updates—this shows you how hands-on they are.
How do I verify a conveyancer is properly registered?: Ask to see their practising licence and professional indemnity insurance certificate. You can then verify their licence number with the relevant professional body if you want extra reassurance that their credentials are current and valid.

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More on Bond registration & cancellation

Verify their recent bond switching track record

Check they understand your new bank's specific process

Request proof of professional standing and insurance

Common questions

What's the biggest mistake people make when hiring someone to help switch their bond?

Assuming their bank will manage the legal side or trusting a conveyancer without confirming they've recently handled bond switches with that specific bank. This gap between assumption and action often causes delays and unexpected penalty interest charges. Always ask for recent client references and confirm they know your new lender's process.

Should I use a conveyancer my new bank recommends?

It's worth listening to your new bank's suggestions—they work regularly with conveyancers and know which ones meet their timelines. However, you're not obligated to use them. If you choose someone else, confirm they've handled bonds with that bank recently so you know they understand the process.

What should I ask a conveyancer's referee?

Ask how quickly the conveyancer confirmed the cancellation date with the old lender, whether there were delays, and whether cancellation was processed before penalty interest accrued. Also ask whether the conveyancer communicated proactively each week or whether they had to chase for updates—this shows you how hands-on they are.

How do I verify a conveyancer is properly registered?

Ask to see their practising licence and professional indemnity insurance certificate. You can then verify their licence number with the relevant professional body if you want extra reassurance that their credentials are current and valid.