FAQs : The Investec Conveyancing Panel
from members of the public
My Solicitor has never been on on the Investec Approved Panel. Is it possible for me to continue with my family solicitor even though they are not on the Investec panel of approved conveyancing solicitors?
The most common options here are as follows:
- Complete the purchase with your existing lawyers but Investec will need to instruct a lawyer on the Investec conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Investec conveyancing panel.
- Urge your lawyer to apply to join the Investec lender panel
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.
Is it necessary during the course of the conveyancing process to pop into the offices of the Investec conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in London
so that I can attend their offices when needed.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
I was supposed to complete on my first house last Thursday. My solicitor is on the Investec conveyancing panel but has changed address 8 weeks ago and had not informed Investec of their new address. Investec has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. Most 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 Investec branch or your mortgage broker to see if they can assist.
Is there a list of Investec panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Can I be sure that the solicitor on the Investec panel is any good?
seeking 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 recommend that you speak with the lawyer conducting your transaction
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Investec on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Investec conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Investec panel she or he must comply with the CML Handbook requirements for Investec. Unless your lawyer obtains specific confirmation in writing that Investec 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 Investec to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.