Intelligent Finance Conveyancing Panel : Questions and Answers from members of the public
It has come to my attention via my financial adviser that my the law firm I have appointed is not on the Intelligent Finance Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to contact your lawyer directly. You lawyer should 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.
Our grandson is in the process of securing a new build apartment with a mortgage from Intelligent Finance. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Intelligent Finance conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Intelligent Finance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Your search tool is useful but there are many lawyers listed near Hackney on the Intelligent Finance conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Intelligent Finance ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I was due to move into my first house yesterday. My solicitor is on the Intelligent Finance solicitors panel but has moved offices in the past couple of months and had not advised Intelligent Finance of their new address. Intelligent Finance has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Intelligent Finance branch or your mortgage broker to see if they can help.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Intelligent Finance conveyancing panel?
Some major lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I am buying a property where the roof has a solar panel. Intelligent Finance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Intelligent Finance your lawyer must to check the Intelligent Finance conveyancing instructions contained in the Part of CML Handbook for Intelligent Finance . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Intelligent Finance where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I have a mortgage with Intelligent Finance. My father retired last week and wants to pay off my mortgage. After Intelligent Finance is paid, I want to transfer the property to my mother's name; How long does the process 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. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
