Kensington Mortgage Conveyancing Panel Information

This not something that the CML would traditionally get involved with although they do host a number of useful conveyancing related conferences which are attended by firms on the Kensington Mortgage conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Kensington Mortgage’s Part 2 requirements. Law firms on the Kensington Mortgage conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor Alerts.

In the same way that there is a unique Kensington Mortgage conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

During 2013, 174 sections of the UK Finance Lenders’ Handbook P2 were changed by Kensington Mortgage. Some changes are more important than others but as a firm on the Kensington Mortgage conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Kensington Mortgage conveyancing panel to see if you are entitled to a reason.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Kensington Mortgage solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You should contact Kensington Mortgage to obtain standard documents. The The Council of Mortgage Lenders Handbook has a specific inquiry for banks to set out who to contact to obtain standard documents. Kensington Mortgage in their Part 2’s state: You will need to quote the firm’s Kensington Mortgage conveyancing panel number.