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I instructed a solicitor to work on my house purchase six weeks ago having applied for a mortgage with Investec. The firm assured me that they are on Investec conveyancing panel and advised me their panel reference. Investec then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the approved panel for Investec?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Investec conveyancing panel You may wish to enlist the help of your broker to check with the Investec as to how long they think it will take to get the firm to get back on the panel.
My husband and I intend to remortgage our flat with Investec. We have a son 18 who lives with us. The solicitor on the Investec conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this document specific to the Investec conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Investec .This is solely used to protect the Investec if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Investec had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I see that you have a post code search directory listing firms on the Investec conveyancing panel. Do firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Investec conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am thinking of refinancing my flat does my lawyer have to be on the Investec Conveyancing panel?
In theory, you could use a solicitor that is not on Investec conveyancing panel, but Investec would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We are getting a further advance on our mortgage from Investec as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Investec conveyancing panel to deal with the legals?
Investec do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Investec list
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 have decided to exercise my right to buy my property off the council. I have a mortgage offer with Investec. 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 Investec you will need to appoint a solicitor on the Investec conveyancing panel.
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