Common questions asked concerning the LendInvest Conveyancing Panel
from members of the public
The solicitor I wanted to use for conveyancing on a remortgage said she would charge more if my mortgage is with LendInvest due to their difficult processes! Will I regret using LendInvest? Is LendInvest conveyancing so much more difficult?
LendInvest 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 LendInvest conveyancing panel. If they are not, this does add further risk of delay as LendInvest will appoint their own solicitors to look after their interest.
I do hope you can help me. My conveyancer is advising me that he is legally obliged to order a Local Authority search as the firm are on the LendInvest solicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with LendInvest your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of LendInvest’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated LendInvest. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
How do I search for a local solicitor on the LendInvest conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the LendInvest solicitor panel.
I am selling my house. 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.
Are all Conveyancing Quality Solicitors on the LendInvest conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
When it comes to mortgage companies such as LendInvest do solicitors 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 was told two 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?
A lender would 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.