JPMorgan Conveyancing Panel Information

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

The Council of Mortgage Lenders is not a regulator and therefore will not advise on grievances against lenders. You can of course contact Lexsure to see if we can assist.

The CLC has initiated 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. It is likely that that the CLC have been in touch with lenders such as JPMorgan since 2008 which is when lenders started being more restrictive.

Assuming that your practice in is on the JPMorgan 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 JPMorgan are to lend, they may require indemnity insurance. In any event,you will need to check JPMorgan’s specific requirements. Notwithstanding whether JPMorgan will lend in such circumstances you still need to advise the borrower (unless you are acting for JPMorgan alone) as to the risks of buying a property with an insolvent or absentee freeholder.

You should 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 negatively affect your firm’s application but gives the Law Society a complete picture of what has gone on.

You should communicate with JPMorgan to obtain standard documents. The CML Handbook has an explicit question for banks to cite who to contact to obtain standard documents. JPMorgan in their Part 2’s state: You will need to quote the firm’s JPMorgan solicitors panel number.