JPMorgan Conveyancing Panel Information

Many estate agents are feeling the pain if their clients start out on the conveyancing process having appointed 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 .

Lexsure only know of two or three banks that operate a distinct approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with JPMorgan. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with JPMorgan

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the JPMorgan conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Structure of firm and, where applicable, its group

Full disciplinary history for each licensed conveyancer

Full complaints history for each licensed conveyancer

Summary of annual accounts

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

SRA or equivalent regulator registration number where applicable

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

purchase and remortgage)

List of fee-earners who are foreign qualified

In order to be on the JPMorgan conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily JPMorgan) are as follows:

• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
• That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.

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 adversely impact your application but gives the Law Society viability as to what has gone on.

You should communicate with JPMorgan to obtain standard documents. The CML Handbook has a specific section for lenders to set out who to contact to obtain standard documents. JPMorgan in their Part 2’s state: It is likely that you will need to quote the firm’s JPMorgan conveyancing panel number.