Intelligent Finance Conveyancing Panel Information

Lexsure has not been advised of any intention on the part of the CML to develop such a register.

The fact of the matter is that estate agents will be feeling the pain if their clients start out on the conveyancing process using 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 .

The CLC has begun dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Intelligent Finance as well as the CML.

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 Intelligent Finance 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 completing the answer.

CQS membership gives no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their panels. Some Lenders now use CQS as the starting point for Panel membership as is the case with Santander.

You should get in touch with Intelligent Finance to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific inquiry for lenders to set out who to contact to obtain standard documents. Intelligent Finance in their Part 2’s state: Always remember to disclose your Intelligent Finance conveyancing panel number.