Intelligent Finance Conveyancing Panel Information

Lexsure has not been advised of any intention on the part of the CML to develop such a search facility.

We only know of two or three lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Intelligent Finance. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Intelligent Finance

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Intelligent Finance conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Structure of firm and, where applicable, its group

List of all those staff who work within the conveyancing team

Details of any accreditation e.g. Lexcel or

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Solicitor

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

List of all solicitors within firm

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

List of all those who fund the firm, including non-lawyers if applicable

Full career history for each solicitor including admission date to the relevant Law Society

With banks and property lawyers working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Intelligent Finance conveyancing panel but for all bank panels

The Law Society’s CQS membership gives no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of conveyancing solicitors. A number of mortgage companies now use CQS as the starting point for Panel acceptance as is the case with HSBC.

You should communicate with Intelligent Finance to obtain standard documents. The CML Handbook contains an express section for lenders to set out who to contact to obtain standard documents. Intelligent Finance in their Part 2’s state: Please remember to disclose your Intelligent Finance conveyancing panel number.