Q and A’s regarding the Investec Solicitor Panel from members of the public
I appointed a law firm to carry out on my remortgage 5 weeks ago having applied for a mortgage with Investec. The law firm assured me that they are on Investec conveyancing panel and advised me their panel reference. Investec then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the approved panel for Investec?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Investec as to the time frame to get your lawyer reinstated on the panel once again.
Expecting to complete my purchase next Friday. 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 Investec. What does the insurance need to cover?
Any lawyer on the Investec 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 Investec’s Part 2 requirements of the CML Handbook (last updated on Investec). Being on the Investec conveyancing panel your lawyer is expect to follow these requirements.
I am purchasing a property and require a conveyancing solicitor in Liverpool who is on the Investec solicitor. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Investec . We don’t recommend any particular firm.
I am selling my house. Does my solicitor have to be on the Investec conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Investec conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I have agreed a price on a flat I spoke to a solicitor recommended by my uncle and he suggested using a law firm approved by Investec. The estate agent recommended two local firms so I asked Investec if the 2 suggested solicitors are approved, which they are not. Investec suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Investec '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 Investec for conveyancing panel firms in your area. 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 Investec 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 Investec conveyancing panel as it may only take about 2-3 weeks. As long as they meet Investec’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'm in the throws of viewing flats and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Investec
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Investec , make sure you remember to check that your lawyer is on the Investec conveyancing panel.
After much negotiation I have agreed a price on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me to say that they were not on the Investec conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Investec panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.