Find an Approved Solicitor on the Investec Bank plc
FAQs : The Investec Conveyancing Panel
My partner and I are FTBs. Within the 48 hours our conveyancer has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. Investec have this evening contacted us to inform me that they have now hit a problem as our conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance 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 property lawyers should contact Investec and see if they can apply for membership of the Investec conveyancing panel, but if that is not viable Investec will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the Investec conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Our grandson is buying a new build apartment with a home loan from Investec. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 am buying a flat and require a conveyancing solicitor in Manchester who is on the Investec solicitor. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Investec . We don’t recommend any particular firm.
My conveyancers in Manchester have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Investec. Is it case that being on the Investec conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Investec Conveyancing Panel Terms. It might be worth you contacting Investec directly.
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 would not normally 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 panel
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Investec have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Investec your lawyer must to check the Investec conveyancing instructions contained in the Part of CML Handbook for Investec . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Investec where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I am currently in the process of buying my council flat. I have a mortgage offer with Investec. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Investec you will need to appoint a solicitor on the Investec conveyancing panel.