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approved by Investec
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?
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?Find an Approved Solicitor on the Investec Bank plc Conveyancing Panel
Common questions asked concerning the Investec Conveyancing Panel
On what basis would a firm of solicitors be excluded from the Investec approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Investec
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Investec will not agree to this. Why was Investec even consulted?
Your lawyer being on the Investec conveyancing panel is duty bound to inform Investec of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Investec then they would have to discontinue acting for you and Investec.
I have been looking for competitive conveyancing fees. Can I be sure that all the law firms that are listed on your website are on the Investec conveyancing panel?
The law firms on our directory 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 incorrect.
I was expecting to complete on my first house last Friday. My lawyer’s firm is on the Investec solicitors panel but has changed address in the past couple of months and had not advised Investec of their new address. Investec is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most 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 Investec branch or your mortgage broker to see if they can help.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Investec conveyancing panel requirements are different to Investec’s conveyancing panel requirements.
We were going to get 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 can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Investec on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Investec conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Investec panel she or he must comply with the CML Handbook requirements for Investec. Unless your lawyer obtains specific confirmation in writing that Investec will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Investec to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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Transfer of Equity for InvestecPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors