Lloyds Conveyancing Panel Information

Many estate agents are feeling the pain if their clients start out on the conveyancing process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

Lexsure only know of two or three banks that operate a distinct conveyancing panel where the mortgage advance is over a certain amount. You should nevertheless check directly with Lloyds. 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 Lloyds

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 Lloyds conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

List of fee-earners who are foreign qualified

Number of partners per branch of the firm

Number of lender conveyancing panels the firm is currently on

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

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

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

Full disciplinary history for each conveyancing solicitor

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

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

In the same way that there is a unique Lloyds 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.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Lloyds solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to contact Lloyds to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual section for lenders to establish who to contact to obtain standard documents. Lloyds in their Part 2’s state: Always remember to quote your Lloyds solicitors panel reference.