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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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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?Find an Approved Solicitor on the Intelligent Finance Conveyancing Panel
FAQs for the Intelligent Finance Conveyancing Panel
I am hoping to receive a mortgage offer from Intelligent Finance. I would like to instruct a Licensed Conveyancer. Does the Intelligent Finance Conveyancing panel allow for Licensed Conveyancers
Intelligent Finance’s approved solicitor list is, like many other lenders associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
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 Intelligent Finance will not agree to this. Why was Intelligent Finance even consulted?
Your lawyer being on the Intelligent Finance conveyancing panel is duty bound to inform Intelligent Finance of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Intelligent Finance then they would have to discontinue acting for you and Intelligent Finance.
I am buying a house and need a conveyancing solicitor in London who is on the Intelligent Finance approved. Can you recommend a local conveyancing 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.
We're in Wales, FTBs buying with a mortgage (lender is Intelligent Finance , but our lawyer is on the Intelligent Finance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Intelligent Finance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
In what circumstances might Intelligent Finance amend or withdraw their mortgage offer?
Lenders such as Intelligent Finance can withdraw their mortgage offer although this rarely happens. In the unlikely event that Intelligent Finance withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- If the solicitor on the Intelligent Finance conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Intelligent Finance ‘s instructions
We expect to receive 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 find our own lawyer
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.
It is not clear whether my mortgage offer requires a lease extension . I have called Intelligent Finance on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Intelligent Finance conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Intelligent Finance. Unless your lawyer obtains specific confirmation in writing that Intelligent Finance will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Intelligent Finance to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Other Topics
Transfer of Equity for Intelligent FinancePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors