Gen H Conveyancing Panel Information

Gen H’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

The Council of Mortgage Lenders do not keep historic copies of P2 requirements pre-December 2010. We would advise that you make a request of Gen H directly.

Gen H approved solicitors have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Gen H require, the deed of covenant on their behalf. You will need to check Gen H CML Part 2 conditions to see if Gen H have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Gen H conveyancing panel

Given that your firm in is on the Gen H conveyancing panel and you are instructed by them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Gen H are to lend, they may require indemnity insurance. In any event,you will need to check Gen H’s specific requirements. Notwithstanding whether Gen H will lend in such circumstances you still need to advise the borrower (unless you are acting for Gen H alone) as to the risks of buying a property with an insolvent or absentee landlord.

We would recommend that you provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your application but gives the CQS team a complete picture of what has happened.

You need to contact Gen H to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an individual inquiry for banks to set out who to contact to obtain standard documents. Gen H in their Part 2’s state: It is likely that you will need to disclose your Gen H solicitors panel number.