FAQs : The Intelligent Finance Conveyancing Panel from members of the public
I appointed a firm of solicitors to carry out on my remortgage 5 weeks ago having applied for a mortgage with Intelligent Finance. The solicitors confirmed to me that they are on Intelligent Finance conveyancing panel and advised me their panel number. Intelligent Finance then called me to say that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor currently on the approved panel for Intelligent Finance?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Intelligent Finance conveyancing panel You may wish to enlist the help of your broker to check with the Intelligent Finance as to how long they think it will take to get the firm to get back on the panel.
Please assist. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Intelligent Finance was issued random date and we have agreed a date for me to move into the property on Tues etc. My lawyer informs me that as she is on the Intelligent Finance conveyancing panel she needs to reorder the searches as they are no longer valid.
A precondition to being on the Intelligent Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Intelligent Finance)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Intelligent Finance.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Intelligent Finance solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My aunt passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Intelligent Finance , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Intelligent Finance will insist on your using a conveyancer on the Intelligent Finance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Intelligent Finance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Intelligent Finance mortgage is registered as a charge at the Land Registry.
I have had an offer accepted on a house I spoke to a solicitor recommended by my dad and he advised instructing a property lawyers approved by Intelligent Finance. The estate agent recommended two local firms so I asked Intelligent Finance if the 2 suggested solicitors are approved, which they are not. Intelligent Finance suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Intelligent Finance 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Intelligent Finance to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Intelligent Finance conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Intelligent Finance conveyancing panel as it may only take about 2-3 weeks. As long as they meet Intelligent Finance’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
After shopping around on the internet I have found a solicitor having made sure that they are on the Intelligent Finance conveyancing panel. Does my lawyer arrange the survey of the property?
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Having digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Intelligent Finance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Intelligent Finance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Intelligent Finance 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.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your 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 postcode. As you are getting a mortgage with Intelligent Finance you could contact your them to see if they have a list of approved surveyors.
My ex -wife’s name is on the Intelligent Finance mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Intelligent Finance mortgage in order to sell?
As regards the Intelligent Finance mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Intelligent Finance in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.