LendInvest Solicitor Panel Recently Asked Questions
from members of the public
How easy is it to change a solicitor as I need to find one who is on the LendInvest conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
I am buying a new build apartment and my conveyancer is informing me that she has to disclose incentives from the developer as her firm is on the LendInvest conveyancing panel. I am nearing the developer’s deadline to exchange and my preference is not to prolong matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the LendInvest approved panel is to comply with the CML Handbook requirements (last updated for this lender on LendInvest). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the lawyers identified as being on the LendInvest conveyancing panel, together with their details provided by LendInvest?
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.
My house is up for sale and I have a buyer. Does my solicitor have to be on the LendInvest conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the LendInvest conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Do conveyancing solicitors on the LendInvest conveyancing panel work on a no move no charge basis?
There is generally 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
Planning on purchasing a flat with a mortgage with LendInvest. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the LendInvest 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 LendInvest conveyancing panel
I was told four weeks ago that my mortgage has been agreed
to by LendInvest. Is it usual for LendInvest to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for LendInvest to deal with your lawyers application to be on the LendInvest conveyancing panel. There's no guarantee that your solicitors will be accepted.