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Lloyds Solicitor Panel: Recently Asked Questions
my firm is on the Lloyds conveyancing panel. Can I get an archived copy of a Lloyds Part 2 from the CML?
The CML do not retain duplicates of P2 conditions Pre January 2011. The CML recommend you contact Lloyds directly.
Do Lloyds or the Council of Mortgage Lenders run professional training seminars for the
Lloyds approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?
No such training is arranged by the CML however they do organise numerous general conveyancing related conferences which are attended by firms on the Lloyds conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Lloyds’s Part 2 requirements. Practitioners on the Lloyds conveyancing panel are welcome. Information about the webinar will be made available as part of the LENDERmonitor Alerts.
A recent SRA survey reveals that 76% of
solicitors have been removed from a lender conveyancing panel. Lloyds and other lenders have restricted their panel over
the years. Why?
In operating open conveyancing panels, lenders such as Lloyds
face a number of fraud and negligence risks. While
there is no authoritative source of data on lender exposure to
solicitor–led mortgage fraud, anecdotal evidence from lenders
indicates exposure on individual cases are often in the millions of
pounds. The National Fraud Authority estimates that £1bn per year is
lost in mortgage -related frauds in total, which is seen as a
conservative estimate.
These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.
Lloyds and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on a number of approved panels including the
Lloyds conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Should I reference these Conditions ?
The key here is the caveat ‘more onerous’.
You have to try and take an objective view as to whether the Terms relating to the
Lloyds conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.
I read the occasional LENDERmonitor alert but I rarely see change of note. By way of illustration, Fortunately my practice on the
Lloyds conveyancing panel and receive a notification only advising of a change of address. Isn't that just noise?
Yes it does matter because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also affect your ability to remain on the
Lloyds conveyancing panel. Lets say that Lloyds change their requirements as to where their panel firm send the deeds.
Do you change the details in your CMS? Do you make a note? Is this information passed on to secretaries and assistants? In your Certificate of Title to Lloyds you are giving assurances that you will send the deeds within 10 days of receiving the TID. Putting to one side the academic question as to whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of
Lloyds suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to an address that is no longer valid.
Marsh’s PI Insurance renewal form questions if my firm had been excluded from any lender panels in the last 12 months.
I just discovered that the practice is no longer on the
Lloyds conveyancing panel? Is this likely to impact my PII premium?
Your insurance brokers are your best port of call to address this question.
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.
I am on the
Lloyds
conveyancing panel and all set to complete a purchase within the next week. I can not locate a Legal Charge for the client to sign.
Who do I contact at Lloyds to get a duplicate Deed?
You need to get in touch with Lloyds
to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an explicit section for lenders to set out who to contact to obtain standard documents.
Lloyds in their Part 2’s state:
Always remember to disclose your Lloyds solicitors panel reference.
Find a Lawyer on the Lloyds Solicitors Panel
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Average number of days to register title including a charge in favour of Lloyds
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Lloyds Firms
- Draft Report on Title precedent for Lloyds borrowers
- Draft Anti Money Laundering PolicyTemplate for Lloyds panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Lloyds lender panel
- Buy-to-Let help for Lloyds
- Consent-to-Let help for Lloyds
- Contractor Mortgages with Lloyds
