Investec Solicitor Panel Example Support Desk Enquires from members of the public
A lawyer my fiance and I wanted to use for conveyancing on a purchase said he will levy higher legal fees if my lender is due to their difficult processes! Will I regret using Investec? Is Investec conveyancing so much more difficult?
Investec conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Investec conveyancing panel. If they are not, this does add further risk of delay as Investec will appoint their own solicitors to look after their interest.
Can you help?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Investec was issued random date and we have agreed a date for me to move into the property on Tues etc. My lawyer says that as she is on the Investec conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
A precondition to being on the Investec approved panel is to comply with the CML Handbook requirements (last updated for this lender on Investec)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Investec.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Investec solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am buying a new build flat and getting a mortgage with Investec. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Investec conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Investec conveyancing panel in your location.
When it comes to lenders such as Investec do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is it the case that all conveyancing lawyers on the Investec conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Investec conveyancing panel requirements are different to Investec’s conveyancing panel criteria.
