Examples of recent questions relating to the Investec Solicitor Panel
from members of the public
On what basis could a firm of solicitors be removed from the Investec approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Investec
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 Investec will not agree to this. Why was Investec even consulted?
Your lawyer being on the Investec conveyancing panel is duty bound to inform Investec of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Investec then they would have to discontinue acting for you and Investec.
I require the services of a Investec panel solicitor in Belfast. Can you assist?
It is not clear why you need a Investec panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Investec to find out which solicitors in Investec are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
Can you clarify what the consequences are if my solicitor is expelled from the Investec Conveyancing panel before the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is it the case that all conveyancing solicitors on the Investec conveyancing panel overseen by the SRA?
As solicitors, in order to be on the Investec 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).
My fiance and I are in the process of looking at houses and am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Investec
You should start obtaining conveyancing quotes from solicitors ASAP. 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 , ask your prospective lawyers check they are on the Investec conveyancing panel otherwise they can't do the mortgage legal work.
Intending to buy a flat with a mortgage with Investec. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Investec conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Investec conveyancing panel