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approved by Intelligent Finance
Ready to buy a new home? Failing to check that a lawyer is on the Intelligent Finance list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Intelligent Finance Conveyancing Panel? How can my firm be reinstated onto the Intelligent Finance Conveyancing Panel?
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FAQs for the Intelligent Finance Solicitor Panel
My property lawyer has never been on on the Intelligent Finance Conveyancing Panel. Can I still retain my preferred solicitor even though they are not on the Intelligent Finance list of approved lawyers?
The most common options here are as follows:
- Complete the purchase with your preferred solicitors but Intelligent Finance will need to instruct a lawyer on the Intelligent Finance conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Intelligent Finance conveyancing panel.
- Urge your lawyer to apply to join the Intelligent Finance lender panel
I am purchasing a new build duplex and my lawyer is informing me that she is duty bound to disclose incentives from the developer as her practice is on the Intelligent Finance conveyancing panel. The Estate Agents are hassling me to sign contracts and I have no desire to prolong the conveyancing. Can I insist on an exchange regardless of what my lawyer says about being on the Intelligent Finance panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Intelligent Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Intelligent Finance). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
How up to date is your search tool for the Intelligent Finance conveyancing panel? Do Intelligent Finance send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Intelligent Finance conveyancing panel as opposed to being supplied with a list from Intelligent Finance directly.
I was due to complete on my flat yesterday. My solicitor is on the Intelligent Finance conveyancing panel but has moved offices in the past couple of months and had not informed Intelligent Finance of their new address. Intelligent Finance has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Intelligent Finance branch or your mortgage broker to see if they can help.
We are getting a further advance on our mortgage from Intelligent Finance as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Intelligent Finance conveyancing panel to deal with the paperwork?
Intelligent Finance would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Intelligent Finance list
My ex -wife’s name is on the Intelligent Finance mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Intelligent Finance mortgage in order to sell?
As regards the Intelligent Finance mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Intelligent Finance in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Intelligent Finance?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Intelligent Finance conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Intelligent Finance and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.