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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.
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FAQs : The Intelligent Finance Solicitor Panel
My fiance and I are FTBs. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Intelligent Finance have this morning contacted us to inform me that there is now an issue as our lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Intelligent Finance and see if they can apply for membership of the Intelligent Finance conveyancing panel, but if that is not viable Intelligent Finance will instruct their own lawyers to represent them. You don't have to instruct a firm on the Intelligent Finance conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Our lawyer has discovered a legal deficiency with the lease for the property we are buying. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the Intelligent Finance conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Intelligent Finance?
Just because you have a mortgage offer from Intelligent Finance does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Intelligent Finance are the client. The appropriate lender requirements must be adhered to by the Intelligent Finance conveyancing panel who has to balance acting for you and Intelligent Finance
I am purchasing a house and require a conveyancing solicitor in Birmingham who is on the Intelligent Finance approved. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Intelligent Finance . We don’t recommend any particular firm.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Intelligent Finance conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Intelligent Finance 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.
We were going to get a DIP from Intelligent Finance 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 Intelligent Finance recommend a solicitor on the Intelligent Finance 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 Intelligent Finance conveyancing panel. The solicitor represents both you and the Intelligent Finance through the process.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Intelligent Finance. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Intelligent Finance you will need to appoint a solicitor on the Intelligent Finance conveyancing panel.
The for formalities of my purchase has taken place with a loan from Intelligent Finance. Conveyancing was of an acceptable standard but I would like to complain about Intelligent Finance. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the Intelligent Finance branches or the Customer Services Department at Intelligent Finance head office. Ordinarily complaints to Intelligent Finance are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service who will take matters further.
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Transfer of Equity for Intelligent FinancePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors