JPMorgan Conveyancing Panel Information

No such training is arranged by the CML but they do organise a number of useful conveyancing related conferences which are attended by firms on the JPMorgan conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on JPMorgan’s Part 2 requirements. Solicitors on the JPMorgan conveyancing panel are welcome. Information about the webinar will be made available as part of the LENDERmonitor Alerts.

The Law Society of Scotland has suggested that solicitors should check their lender panel status prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the JPMorgan conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com

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 JPMorgan 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 moving forward on this question.

When a solicitor is acting for both JPMorgan and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the JPMorgan and it may well be prudent you to cease to act for the purchaser as well. You can not tell the JPMorgan the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your JPMorgan conveyancing panel status.

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 firm’s application but gives the CQS team a complete picture of what has gone on.

You should get in touch with JPMorgan to obtain standard documents. The CML Handbook incorporates a specific inquiry for banks to cite who to contact to obtain standard documents. JPMorgan in their Part 2’s state: Don’t forget to quote your JPMorgan solicitors panel reference.