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Ready to buy a new home? Failing to check that a lawyer is on the Investec 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 Investec Bank plc Conveyancing Panel? How can my firm be reinstated onto the Investec Bank plc Conveyancing Panel?Find an Approved Solicitor on the Investec Bank plc Conveyancing Panel
Frequently asked questions relating to the Investec Conveyancing Panel
Is the fact that my conveyancer is not on the Investec Solicitor panel that there is a problem with the quality of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Investec.
My fiance and I intend to remortgage our apartment with Investec. We have a son approaching twenty who lives with us. The solicitor on the Investec conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Investec conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Investec .This is solely used to protect the Investec if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Investec had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am Googling for conveyancing quotes online. Can I be sure that all the law firms that are identified on your directory are on the Investec conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the Investec panel and agreed to advise us to take down their listing in the event of removal off of the Investec panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Investec conveyancing panel is not accurate.
I am purchasing a semi-detached house and getting a mortgage with Investec. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Investec conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Investec conveyancing panel in your location.
We have a mortgage agreed in principle with Investec. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Investec?
Some lenders take longer than others. Have Investec conducted the survey? Have you advised Investec as your lawyers details and checked that your lawyer is on the Investec conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
Investec 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 Investec or your broker and complete any relevant paperwork. Investec will tell you what documents they want. Investec 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. Investec 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.
At last I have had an offer on an apartment 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 should be my next step? When should I get the mortgage app going with Investec?
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 Investec 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 Investec and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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Transfer of Equity for InvestecPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors