Q and A’s regarding the Intelligent Finance Conveyancing Panel from members of the public
Much to my surprise I have been told by my IFA that my solicitor is not on the Intelligent Finance Conveyancing panel. How can I be sure that this is correct?
The first thing you need to do is to contact your conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Intelligent Finance.
Expecting to complete my purchase next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Intelligent Finance. What does the insurance need to cover?
Any lawyer on the Intelligent Finance conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Intelligent Finance’s Part 2 requirements of the CML Handbook (last updated on Intelligent Finance). Being on the Intelligent Finance conveyancing panel your lawyer is expect to follow these requirements.
I have been Googling for online conveyancing estimates. Can I be assured that all the law firms that are listed on your website are on the Intelligent Finance conveyancing panel?
The law firms listed on our site have advised us that they are on the Intelligent Finance panel and agreed to advise us to take down their listing in the event of removal off of the Intelligent Finance panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Intelligent Finance conveyancing panel is incorrect.
I am attempting to get my ex-wife removed the mortgage deeds. Can Intelligent Finance really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Intelligent Finance then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Intelligent Finance solicitors panel
We have a mortgage agreed in principle with Intelligent Finance. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Intelligent Finance?
Some lenders take longer than others. Have Intelligent Finance completed the valuation? Have you advised Intelligent Finance as your lawyers details and checked that your lawyer is on the Intelligent Finance conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
We have agreed a price on a house I spoke to a conveyancer recommended by my uncle and he advised instructing a solicitor 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 firm 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 for conveyancing panel firms in your area. Lenders have them all over the country. 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.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Intelligent Finance are being problematic. The solicitor who is on the Intelligent Finance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Intelligent Finance are insisting on a building regulation certificate. Why do Intelligent Finance have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Intelligent Finance have referred the matter to their valuer. The reason why Intelligent Finance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
