Frequently asked questions relating to the Intelligent Finance Conveyancing Panel from members of the public
How easy is it to change a solicitor as I need to find one who is on the Intelligent Finance conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Intelligent Finance will not agree to this. Why was Intelligent Finance even consulted?
Your lawyer being on the Intelligent Finance conveyancing panel is duty bound to inform Intelligent Finance of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Intelligent Finance then they would have to discontinue acting for you and Intelligent Finance.
I note that you have a search directory listing solicitors on the Intelligent Finance conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Intelligent Finance conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am considering mortgaging my apartment does my lawyer have to be on the Intelligent Finance Solicitor panel?
There is nothing to stop you using your solicitor but Intelligent Finance will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Are all solicitors on the Intelligent Finance conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Intelligent Finance conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
How can we tell if a solicitor on the Intelligent Finance panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your transaction
My existing mortgage is with Intelligent Finance. My grandfather has just retired and wants to pay off the mortgage left on the property. After Intelligent Finance is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Intelligent Finance conveyancing panel? I do not intend to live at the property once the Intelligent Finance mortgage is discharged.
You
will need a solicitor but they need not be on the Intelligent Finance conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
