GE Money Conveyancing Panel Information

You might expect GE Money via their Part 2 obligations to address this but the Handbook is silent on deadlines to send deeds. You need to look at the Terms of GE Money’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms have a provision along the following lines: ‘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 GE Money updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

There are many reports available, five of which are as follows:

• Current and historic missed priority dates
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Buy to Let transactions
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Average time frame to register charges at the Land Registry

What you should do largely depends on the reason that your firm has been removed off the GE Money conveyancing panel. The top 3 reasons are as follows:

1. lack of transactions
2. the lawyer is a sole practitioner
3. as part of the HSBC panel reduction.

In these three circumstances it is unlikely that you would expected to take any action. Disclosure and other compliance considerations are more likely to be relevant if the reason for removal is due to breaches of lender requirements or allegations of fraud or negligence. Whether the reasoning should trigger a disclosable 'material' breach will depend on the firm and the circumstances around possible failures to comply with the SRA Authorisation Rules, and the SRA will judge each case on its own merits. Factors such as the detriment or risk of detriment to clients, the scale of the issue and overall impact on the firm will need to be considered in deciding whether a failure is 'material'. As the COLP you will need systems to identify patterns of breaches. Even if you don't consider there to be regulatory implications the firms COFA should give some thought to whether she/he needs to take any action as result of being removed from the GE Money conveyancing panel.

5 borrowers search for a conveyancer on the GE Money panel every 4 weeks in Hendon. The lenderpanel directory service team who will show you how your firm can be found by those searching for conveyancing in Hendon.

We would recommend that you supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the Law Society viability as to what has occured.

You should communicate with GE Money to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit inquiry for banks to cite who to contact to obtain standard documents. GE Money in their Part 2’s state: It helps to quote your GE Money solicitors panel reference.