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approved by LendInvest
Ready to buy a new home? Failing to check that a lawyer is on the LendInvest list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the LendInvest Conveyancing Panel? How can my firm be reinstated onto the LendInvest Conveyancing Panel?
Find an Approved Solicitor on the LendInvest Conveyancing Panel
Frequently asked questions relating to the LendInvest Solicitor Panel
Am I correct in assuming that the fact that my conveyancer is not identified on the LendInvest Solicitor panel that there is a problem with the quality of the firm’s 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 LendInvest.
I am purchasing a newly built duplex and my solicitor is telling me that she has to disclose incentives from the builder as her firm is on the LendInvest conveyancing panel. I am nearing the developer’s deadline to sign contracts and I would rather not delay the conveyancing. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the LendInvest approved panel is to comply with the CML Handbook requirements (last updated for this lender on LendInvest). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the LendInvest conveyancing panel. My lawyer has said that they are on the LendInvest approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the LendInvest conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the LendInvest solicitor panel.
I was expecting to complete on my dream home last Friday. My solicitor is on the LendInvest conveyancing panel but has changed address in the past couple of months and had not advised LendInvest of their new address. LendInvest has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local LendInvest branch or your mortgage broker to see if they can assist.
When it comes to lenders such as LendInvest do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is it common for LendInvest to withdraw a mortgage offer and what would be the reasoning?
Banks and Building Societies such as LendInvest can withdraw their mortgage offer although this rarely happens. If LendInvest 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 a few examples:
- Where information comes to LendInvest ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- LendInvest may amend or withdraw an offer if the LendInvest conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the lender has to take account a recent change in taxation
The mortgage over my property is with LendInvest. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform LendInvest?
LendInvest must be informed of your intention in advance of renting your property as this is likely to be a breach of LendInvest’s mortgage conditions. It may be that LendInvest will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact LendInvest directly. It should not be necessary to do this via a LendInvest conveyancing panel lawyer.