LendInvest Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with alerts on LendInvest’s changes. Even though utilising this technology is not a condition for acceptance on the LendInvest panel, demonstrating you can stay up to date with LendInvest’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by LendInvest

Banks and building societies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from LendInvest are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, LendInvest has made 1 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 2730.0 days. In total, 0% of the sections of P2 of the UK Finance Lenders’ Handbook for LendInvest have been changed since 15/12/2008.

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Examples of recent questions relating to the LendInvest Solicitor Panel from members of the public

Am I correct in assuming that the fact that my solicitor is not on the LendInvest Conveyancing panel that there is a problem with the standard of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for LendInvest.
My nephew is about to exchange on a newly built flat with a home loan from LendInvest. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the LendInvest conveyancing panel as a standard part of the process, and to the valuer when asked.

The Developer will be required to start the process by downloading the form and completing it.

The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the LendInvest conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

How up to date is your search tool for the LendInvest conveyancing panel? Do LendInvest send you an updated list?
The law firm practices themselves provide us confirmation that they are on the LendInvest conveyancing panel as opposed to being supplied with a list from LendInvest directly.
I would like to get my ex-husband taken off the mortgage deeds. Can LendInvest really tell me which solicitor I can or can not retain?
You can use any solicitor you like but LendInvest then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the LendInvest solicitors panel
Do conveyancing lawyers on the LendInvest conveyancing panel work on a no sale no fee 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 service
I have paid off my mortgage with LendInvest. I assume I don't need a solicitor on the LendInvest panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your LendInvest mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the LendInvest mortgage from the register. LendInvest,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the LendInvest has sent the Land Registry the discharge electronically, and the LendInvest has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your LendInvest mortgage has been paid off.
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, LendInvest are being difficult. The solicitor who is on the LendInvest conveyancing panel is saying indemnity insurance will be fine but LendInvest are insisting on a building regulation certificate. Why do LendInvest have a conveyancing panel of they don’t accept advice from them?
It is probably the case that LendInvest have referred the matter to their valuer. The reason why LendInvest may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.