Find a Law Firm
approved by LendInvest

LendInvest and other lenders ordinarily restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that LendInvest have no responsibility for the quality of advice provided by any member of LendInvest Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.

Just because you have a mortgage offer from LendInvest does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and LendInvest are the client. These conveyancing instructions have to be complied with by the LendInvest conveyancing panel who has to balance acting for you and LendInvest

The law firm practices themselves provide us confirmation that they are on the LendInvest conveyancing panel as opposed to being supplied with a list from LendInvest directly.

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 LendInvest Conveyancing Panel Terms. It might be worth you contacting LendInvest directly.

A selection of lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.

Your original mortgage agreement with LendInvest will provide that you need their approval prior to letting out your property as this is likely to be a breach of LendInvest’s mortgage conditions. In many cases banks or building societies 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. You need not do this via a LendInvest conveyancing panel firm.

LendInvest will need an independent valuation of the property. Your lawyer will not arrange this. Usually LendInvest 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. or 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 LendInvest you could contact your them to see if they have a list of approved surveyors.