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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?Is my firm on the Intelligent Finance Conveyancing Panel? 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
How easy is it to change a solicitor as I need to find one who is on the Intelligent Finance conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
Please help. My solicitor is assuring me that he is legally obliged to order a Local Authority search stemming from the fact that the firm are on the Intelligent Finance approved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with Intelligent Finance 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 Intelligent Finance’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Intelligent Finance. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Intelligent Finance solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The solicitors that I appointed last week on my purchase in Newcastle has without warning shut down. I only went with them because I needed a firm on the Intelligent Finance conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Intelligent Finance conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
Is it the case that all conveyancing lawyers on the Intelligent Finance conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I have paid off my mortgage with Intelligent Finance. I assume I don't need a solicitor on the Intelligent Finance panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Intelligent Finance mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Intelligent Finance mortgage from the register. Intelligent Finance,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Intelligent Finance has sent the Land Registry the discharge electronically, and the Intelligent Finance has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Intelligent Finance mortgage has been paid off.
I have instructed a lawyer having made sure that they are on the Intelligent Finance conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Intelligent Finance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Intelligent Finance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Intelligent Finance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Intelligent Finance you could contact your them to see if they have a list of approved surveyors.