Aviva Equity Release Conveyancing Panel Information

The Council of Mortgage Lenders, together with Aviva Equity Release and other members developed a standard set of instructions where a solicitor is acting for a lender such as Aviva Equity Release alone in a residential conveyancing transaction. These obligations are contained at Part Three of the UK Finance Lenders’ Handbook and are to be read together with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.

Lexsure only know of a couple of lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain amount. You should nevertheless check directly with Aviva Equity Release. 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 Aviva Equity Release

During 2013, 32 sections of the UK Finance Lenders’ Handbook P2 were changed by Aviva Equity Release. Some changes are more important than others but as a firm on the Aviva Equity Release conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Aviva Equity Release conveyancing panel to see if you are entitled to a reason.

In the circumstances please explain on the application what action you have taken to find out the reasons behind cancellation of your Aviva Equity Release panel membership. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You need to get in touch with Aviva Equity Release to obtain standard documents. The CML Handbook incorporates an individual inquiry for banks to reveal who to contact to obtain standard documents. Aviva Equity Release in their Part 2’s state: It is likely that you will need to quote your Aviva Equity Release conveyancing panel reference.