Solicitors and representation
For mortgage brokers only
Solicitors
The Bank will look to use the client’s solicitors for dual representation. In order for them to qualify, they will need to meet the following criteria:
- Minimum of 3 partners
- Solicitors PI cover must be a minimum of £2m, but should match the loan value +25%
- Solicitor firm must be SRA registered
- They must have completed 120 mortgage transactions in the last 12 months
- The firm must be on-boarded through LMS (our panel service manager)
Should they meet this criteria, Investec will issue its instruction at offer stage through the LMS portal. Prior to our instruction, our property due diligence requirements and general instructions are available for solicitors on the UK Finance Handbook page. In order to act on our behalf the solicitors will need to register for our Dual Rep Panel via LMS.
Separate representation fee scale
Dual representation
We may be able to allow your client’s solicitor to act on behalf of Investec, as well as themselves during the mortgage application. Please check with us, prior to instructing any solicitor, to confirm if they are on our panel and can act on our behalf as well as your client.
The fee they agree with their solicitor will cover the work they do on both their and our behalf and will not feature in any mortgage illustration provided by Investec.
Single representation fee scale
If we are unable to use your client’s solicitor to act on our behalf, we will need to appoint our own solicitor to act for us. This is known as separate representation. Where separate representation is chosen or applicable, please find the indicative costs below. These costs will be paid by your client in addition to the cost of their own solicitor.
Standard instruction
Defined as a purchase or refinance, for owner occupation or buy-to-let where the transaction falls below:
| Borrower | Tenure type | Standard fee (excl VAT and disbursement) | Security | Residency/incorporated |
|---|---|---|---|---|
| Individual | Freehold | £1,750 |
| Borrower is resident, domiciled, incorporated or registered in England and Wales, or where legal opinion is not required. |
| Leasehold | £1,950 | |||
| Corporate (including SPV) | Freehold | £2,050 | ||
| Leasehold | £2,250 | |||
| Trust | Freehold | £2,050 | ||
| Leasehold | £2,250 |
Costs outside of standard scope:
- New Builds: +£250 (+vat)
- Multiple Property Discount: If Investec are taking security over more than one property, a discount of at least 10% will be applicable to the fee quote.
Non-standard instruction
Non-standard instructions will require a quote and are defined as a loan for development or commercial purposes, and/or the transaction meets any of the criteria set out below:
| Borrower | Security | Residency/incorporated |
|---|---|---|
| Individual |
| Borrower is not resident, domiciled, incorporated or registered in England and Wales and a legal opinion is required. |
| Corporate | ||
| Trust |
Rates and early repayment charges
Access our latest mortgages rates.
Valuation fees
Standard fees applicable for all standard instructions.
Get in touch
If you're a mortgage broker and want to discuss how we can help your clients (minimum income £300,000) with their mortgage, contact us.