LendInvest Conveyancing Panel : Questions and Answers
from members of the public
A lawyer my husband and I wanted to use for conveyancing on a purchase said she would charge more if my mortgage is with LendInvest due to their difficult processes! Am I likely to be frustrated using LendInvest? Any comments will be appreciated
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.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company LendInvest will not agree to this. Why was LendInvest even consulted?
Your lawyer being on the LendInvest conveyancing panel is duty bound to inform LendInvest of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to LendInvest then they would have to discontinue acting for you and LendInvest.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the LendInvest conveyancing panel. My lawyer has said that they are on the LendInvest approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the LendInvest conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the LendInvest solicitor panel.
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to LendInvest , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then LendInvest will insist on your using a conveyancer on the LendInvest conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your LendInvest conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the LendInvest mortgage is registered as a charge at the Land Registry.
We were going to get a DIP from LendInvest this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the LendInvest recommend a solicitor on the LendInvest conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the LendInvest conveyancing panel. The solicitor represents both you and the LendInvest through the process.
My husband and I are at the point of viewing houses and am about to put in an offer. Is it premature to have a solicitor in place? I I am planning to take a home loan with LendInvest
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with LendInvest , ask your prospective lawyers check they are on the LendInvest conveyancing panel otherwise they can't do the mortgage legal work.
Completion of my purchase has taken place with a mortgage from LendInvest. Conveyancing was satisfactory but I would like to complain about LendInvest. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the LendInvest branches or the Customer Care Team at LendInvest head office. Ordinarily complaints to LendInvest are resolved very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service
who will take matters further.