Common questions asked concerning the Investec Conveyancing Panel from members of the public
My fiance and I are buying a 3 bedroom flat in Newcastle with a mortgage from Investec. We like our solicitor but Investec says she’s not on their "panel". We have to appoint one of the Investec panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Investec use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Investec conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Investec
Our lawyer has uncovered a legal deficiency with the lease for the flat we are purchasing. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the Investec conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Investec?
Just because you have a mortgage offer from Investec does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Investec are the client. These conveyancing instructions must be adhered to by the Investec conveyancing panel who has to balance acting for you and Investec
I need to find a Investec panel solicitor in Inverness. 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. At a fee of one pound per month it is not expensive to register on the site
What happens if my lawyer’s firm is suspended from the Investec Conveyancing panel prior to the moving date as agreed at exchange of contracts?
First, this is a very rare occurrence. 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.
How can we tell if a solicitor on the Investec panel is any good?
obtaining recommendations is a good start. 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 advise that you speak with the solicitor carrying out your conveyancing
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Investec. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Investec involved you will need to appoint a solicitor on the Investec conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Investec. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Investec conveyancing panel.
The mortgage over my property is with Investec. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Investec?
Your original mortgage agreement with Investec will provide that you need their approval in advance of renting your property as this is likely to be a breach of Investec’s mortgage conditions. It may be that Investec will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Investec directly. It should not be necessary to do this via a Investec conveyancing panel solicitor.
