Accord Mortgages Conveyancing Panel Information

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Accord Mortgages conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

conveyancer client account(s) details

House price discrepancies (declared to lender vs. registered at Land Registry)

Number of partners per branch of the firm

Full complaints history for each conveyancing solicitor

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. change of management)

Details of any accreditation e.g. Lexcel or

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

List of all those who can sign off the Certificate Of Title

Full disciplinary history for each conveyancing solicitor

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

As is the case with the Law Society the CLC has entered dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Accord Mortgages in the recent past.

In the same way that there is a unique Accord Mortgages conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

Given that your firm in is on the Accord Mortgages conveyancing panel and you are instructed by them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Accord Mortgages are to lend, they may require indemnity insurance. In any event,you will need to check Accord Mortgages’s specific requirements. Notwithstanding whether Accord Mortgages will lend in such circumstances you still need to advise the borrower (unless you are acting for Accord Mortgages alone) as to the risks of buying a property with an insolvent or absentee landlord.

In the circumstances please clarify on the form what action you have taken to find out the reasons behind cancellation of your Accord Mortgages panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You need to contact Accord Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific question for banks to set out who to contact to obtain standard documents. Accord Mortgages in their Part 2’s state: Please remember to disclose your Accord Mortgages conveyancing panel number.