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Fleet Mortgages Conveyancing Panel: Recently Asked Questions
Do Fleet Mortgages or the CML run CPD seminars for the
Fleet Mortgages approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?
The Council of Mortgage Lenders (or the BSA) do not involve themselves in training although they do arrange a number of useful conveyancing related conferences which are attended by firms on the Fleet Mortgages conveyancing panel. It is our intention to run specific lender focused seminars in the near future including a webinar on Fleet Mortgages’s Part 2 requirements. Solicitors on the Fleet Mortgages conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor Alerts.
Do I face being suspended off the
Fleet Mortgages solicitor panel if I have not sent the TID on a purchase within a certain time frame from draw-down of funds?
You might expect
Fleet Mortgages via their Part 2 conditions to address this but the Handbook makes no mention on deadlines to send deeds. Do look at the Terms of
Fleet Mortgages’s Conveyancing Panel Appointment that you previously signed. For a number of banks these Terms include a provision such as:
‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep
Fleet Mortgages informed.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
Can you give me an example of some of the reports available via COMPLETIONmonitor to support my application to be on the Fleet Mortgages conveyancing panel
?
There are many reports available, five of which are as follows:
- Evidence of undertaking logs
- Average time frame to register charges at the Land Registry
- Buy to Let transactions
- Analysis as to the nature of clients (e.g.existing/new/seen in person)
- Average time frame to send deeds to the lender (calculated from completion date or title registration)
I have read a number of legal articles recently about firms being sued for non-compliance with CML PII obligations . I am on the
Fleet Mortgages conveyancing panel can you tell me how Part 2 changes took place by
Fleet Mortgages during 2013?
During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by
Fleet Mortgages. Some changes are more important than others but as a firm on the
Fleet Mortgages 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.
My post-completion clerk has left my firm on short notice.
I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to
Fleet Mortgages once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Fleet Mortgages?
Fleet Mortgages will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the
Fleet Mortgages conveyancing panel.
We had our Fleet Mortgages panel membership terminated but we have not yet been given an explanation yet.
I am completing a CQS application questionnaire what details should I report?
In the circumstances please clarify on the application what action you have taken to discover the reasons behind cancellation of your
Fleet Mortgages panel status.
In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender putting you on notice?
I am on the
Fleet Mortgages
conveyancing panel and due to complete a remortgage within the next few weeks. My papers do not include a Mortgage Deed for the client to sign.
Who do I contact at Fleet Mortgages to get a duplicate Deed?
You would be advised to contact Fleet Mortgages
to obtain standard documents. The CML Handbook contains an explicit section for lenders to set out who to contact to obtain standard documents.
Fleet Mortgages in their Part 2’s state:
You will need to quote your Fleet Mortgages solicitors panel number.
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Average number of days to register title including a charge in favour of Fleet Mortgages
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Fleet Mortgages Firms
- Draft Report on Title precedent for Fleet Mortgages borrowers
- Draft Anti Money Laundering PolicyTemplate for Fleet Mortgages panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Fleet Mortgages lender panel
- Buy-to-Let help for Fleet Mortgages
- Consent-to-Let help for Fleet Mortgages
- Contractor Mortgages with Fleet Mortgages