Q and A’s regarding the Intelligent Finance Conveyancing Panel from members of the public
I have just been informed by my mortgage broker that my property lawyer is not on the Intelligent Finance Solicitor panel. How can I check?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Intelligent Finance.
can you help? My solicitor is assuring me that she is duty-bound to conduct a Local Authority search as the firm are on the Intelligent Finance solicitor panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Intelligent Finance your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Intelligent Finance’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Intelligent Finance. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I need to find a Intelligent Finance panel solicitor in Inverness. Can you assist?
It is not clear why you need a Intelligent Finance panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Intelligent Finance to find out which solicitors in Intelligent Finance are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My grandmother passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage left on it of around £4500. 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.
We have a mortgage agreed in principle with Intelligent Finance. Solicitors have been instructed? How long does it take for Intelligent Finance to send the offer to our conveyancer
Some lenders take longer than others. Have Intelligent Finance done the survey? 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
I can not work out if my mortgage offer requires a lease extension . I have called Intelligent Finance on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Intelligent Finance conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Intelligent Finance. Unless your lawyer obtains specific confirmation in writing that Intelligent Finance will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Intelligent Finance to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Intelligent Finance?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Intelligent Finance conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Intelligent Finance and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.