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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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Investec Conveyancing Panel : Questions and Answers
A lawyer my husband and I wanted to use for conveyancing on a purchase said he will levy higher legal fees if my lender is because of their difficult processes! Am I likely to be frustrated using Investec? Any comments will be appreciated
Investec conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Investec conveyancing panel. If they are not, this does add further risk of delay as Investec will appoint their own solicitors to look after their interest.
Our son is in the process of securing a house that has just been built with a mortgage from Investec. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Investec conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Investec conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been searching for conveyancing quotes online. Can I be sure that all the practices that are identified on your directory are on the Investec conveyancing panel?
The solicitor and licensed conveyancing practices on our directory 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 mortgage company or a member of the public that the data about a specific firm being on the Investec conveyancing panel is not accurate.
I am trying to get my ex-wife removed the mortgage deeds. Can Investec really tell me which solicitor I can or can not use?
You can use any solicitor you like but Investec then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Investec solicitors panel
We are getting a further advance on our mortgage from Investec as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Investec conveyancing panel to deal with the paperwork?
Investec do not ordinarily instruct a member of their conveyancing panel 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 Investec list
I have a mortgage with Investec. My godfather has just retired and wants to pay off my mortgage. After Investec is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Investec conveyancing panel? I do not intend to live at the property once the Investec mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Investec panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
I have not been happy with the level or service received from my lawyer. Is there a Investec conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Investec. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.