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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.
Looking for information about your firm's panel status?Is my firm on the Investec Bank plc Conveyancing Panel? 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?
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Investec Conveyancing Panel : Questions and Answers
My fiance and I are purchasing a 1 bedroom flat in London with a mortgage from Investec. We would like to retain our solicitor but Investec says she’s not on their "panel". We have to appoint one of the Investec panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Investec conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Investec
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Investec was date stamped random date and we have agreed a date for me to move into the property on 6. My solicitor has advised that as she is on the Investec conveyancing panel she needs to reorder the searches as they are no longer valid.
A precondition to being on the Investec approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Investec)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Investec.
I am searching for conveyancing quotes online. Can I be sure that all the firms that are listed on your directory are on the Investec conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form 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.
My aunt passed away last year and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Investec , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Investec will insist on your using a conveyancer on the Investec conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Investec conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Investec mortgage is registered as a charge at the Land Registry.
Last month we had a mortgage agreed in principle with Investec. Solicitors have been instructed? How long does it take for Investec to send the offer to our conveyancer
Some lenders take longer than others. Have Investec completed the valuation? 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
We expect to receive a DIP from Investec this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Investec recommend a solicitor on the Investec conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Investec conveyancing panel. The solicitor represents both you and the Investec through the process.
I have paid off my mortgage with Investec. I assume I don't need a solicitor on the Investec panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Investec 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 Investec mortgage from the register. Investec,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 Investec has sent the Land Registry the discharge electronically, and the Investec has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Investec mortgage has been paid off.