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approved by LendInvest
Ready to buy a new home? Failing to check that a lawyer is on the LendInvest list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the LendInvest Conveyancing Panel? How can my firm be reinstated onto the LendInvest Conveyancing Panel?Find an Approved Solicitor on the LendInvest Conveyancing Panel
LendInvest Conveyancing Panel : Questions and Answers
On what basis could a law firm be removed from the LendInvest approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by LendInvest
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 am planning to acquire a property and require a conveyancing solicitor in Liverpool who is on the LendInvest approved. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for LendInvest . We don’t recommend any particular firm.
My lawyers in Leeds have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with LendInvest. Is it case that being on the LendInvest conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the LendInvest Conveyancing Panel Terms. It might be worth you contacting LendInvest directly.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the LendInvest conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is 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 panels.
I previously instructed online solicitors based in Manchester who are on the LendInvest solicitor panel. They have just invoiced me a separate fee of £150 for dealing with the LendInvest mortgage. Is this a supplemental conveyancing fee set by LendInvest?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by LendInvest but by your lawyers. Some firms on the LendInvest will charge an ‘acting for lender’ fee and others do not.
LendInvest have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up LendInvest or your broker and complete any relevant paperwork. LendInvest will tell you what documents they want. LendInvest will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. LendInvest will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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Transfer of Equity for LendInvestPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors