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approved by Intelligent Finance
Ready to buy a new home? Failing to check that a lawyer is on the Intelligent Finance list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Intelligent Finance Conveyancing Panel
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Am I correct in assuming that the fact that my conveyancer is not on the Intelligent Finance Solicitor panel that there is a problem with the standard of the firm’s work?
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 top 3 reasons are as follows: (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 Intelligent Finance.
We are getting closer to an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Intelligent Finance. Apparently, being on the Intelligent Finance conveyancing panel and acting on their behalf he must inform Intelligent Finance if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Intelligent Finance to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Intelligent Finance if you agree, failing which, your lawyer must cease to continue acting.
I have been Googling for conveyancing quotes online. Can I be assured that all the practices that are listed on your directory are on the Intelligent Finance conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Intelligent Finance panel and agreed to advise us to take down their listing in the event of removal off of the Intelligent Finance 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 Intelligent Finance conveyancing panel is not accurate.
We're in Liverpool, First time buyers purchasing with a mortgage (lender is Intelligent Finance , but our solicitor is on the Intelligent Finance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Intelligent Finance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I am currently in the process of buying my council flat. I have a mortgage agreed with Intelligent Finance. 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 Intelligent Finance you will need to appoint a solicitor on the Intelligent Finance conveyancing panel.
The for formalities of my remortgage has taken place with a mortgage from Intelligent Finance. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Intelligent Finance. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the Intelligent Finance branches or the Customer Services Team at Intelligent Finance head office. We understand that complaints to Intelligent Finance are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
I have instructed a lawyer having made sure that they are on the Intelligent Finance conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Intelligent Finance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Intelligent Finance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Intelligent Finance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Intelligent Finance you could contact your them to see if they have a list of approved surveyors.