LendInvest Conveyancing Panel Recently Asked Questions from members of the public
Am I correct in assuming that the fact that my solicitor is not isted on the LendInvest Conveyancing panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. 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 lawyer has identified a discrepancy when comparing the information in LendInvest’s home valuation survey and what is in the title deeds. My lawyer has advised that as he is on the LendInvest conveyancing panel he needs to check that the lender is with this discrepancy and is content go ahead. Is my conveyancer’s approach correct?
A precondition to being on the LendInvest approved panel is to comply with the CML Handbook requirements (last updated for this lender on LendInvest) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I require the services of a LendInvest panel solicitor in Stirling. Could you help me?
It is not clear why you need a LendInvest panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to LendInvest to find out which solicitors in LendInvest are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
We're in Birmingham, First timers buying with a mortgage (lender is LendInvest , but our lawyer is on the LendInvest conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the LendInvest conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
When it comes to lenders such as LendInvest do lawyers have to be pay a fee to be on the list of approved solicitors?
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.
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.
After shopping around on the internet I have found a solicitor having checked that they are on the LendInvest conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the LendInvest conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
LendInvest will need an independent valuation of the property. Your lawyer will not arrange this. Usually LendInvest will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with LendInvest you could contact your them to see if they have a list of approved surveyors.