Looking for information about your firm's panel status?
Masthaven Bank Conveyancing Panel: Recently Asked Questions
What can you suggest we do if we wish to appeal being removed from the
Masthaven Bank approved solicitor list?
Should you firm be removed from the
Masthaven Bank conveyancing panel and you are unaware of or disagree with the reasons for your removal you should: (a) Contact
Masthaven Bank directly. (b) If there is an appeals process detailed on your letter you should follow the process.
In appealing a decision by Masthaven Bank, it may be useful to provide the following information:
- Comprehensive disclosure of your transaction history
- A copy of your COMPLETIONmonitor reports if you use that service
- Your recent claims history
- Full details of all employees in your practice and their role.
- Note down if a solicitor has been admitted to the role on completion of the Qualified Lawyers Transfer Test.
- Supply copy practising certificates, the firm's current professional indemnity policy and the firm’s accountant's certificate, confirming what % of the firm's gross fee income is resulting from residential conveyancing transactions
On appeal some conveyancing firms have been able to regain membership to panels notwithstanding the policy by the respective lenders to refuse panel membership to firms with certain profiles or characteristics. Success is primarily due to the firms’ ability to persuade the lender to make an exception if there is sufficient evidence to reassure them that the firm is well risk-managed.
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
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 .
Do you have any idea what Lenders such as
Masthaven Bank are asking for when it comes to applying to be on their approved conveyancing panel?
Each lender has different criteria.
We do not hold specific requirements relating to the questions raised as part of the application to be on the
Masthaven Bank 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
List of all Licensed Conveyancers within firm
Areas of Law covered by the firm
Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.
Full disciplinary history for each conveyancing solicitor
Whether the firm has ever applied for accreditation and the outcome of the application
List of all those who fund the firm, including non-lawyers if applicable
Whether any lender has ever made a claim against the firm’s PII cover
Full career history for each solicitor including admission date to the relevant Law Society
Number of lender conveyancing panels the firm is currently on
I have read a number of legal articles recently about firms being sued for non-compliance with Part 2 requirements . I am on the
Masthaven Bank conveyancing panel can you tell me how Part 2 changes took place by
Masthaven Bank during 2013?
During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by
Masthaven Bank. Some changes are more important than others but as a firm on the
Masthaven Bank 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.
My firm is on the
Masthaven Bank conveyancing panel. I am dealing with
Masthaven Bank mortgage on a purchase. My borrower client is asking not to disclose an issue to
Masthaven Bank. What do I do in this conflict situation?
When a solicitor is acting for both
Masthaven Bank 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 Masthaven Bank
and it may well be prudent you to cease to act for the purchaser as
well. You can not tell the Masthaven Bank 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 Masthaven Bank conveyancing
panel status.
Our membership of the
Masthaven Bank conveyancing panel was suspended but was reinstated on appeal, do I need to disclose this information on my application for CQS accreditation?
It would be advisable to 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 firm’s application but gives the CQS team viability as to what has gone on.
My firm is listed on the
Masthaven Bank
conveyancing panel and due to complete a purchase within the next week. My papers do not include a Legal Charge for the client to execute.
Who do I contact at Masthaven Bank to get a duplicate Deed?
You need to contact Masthaven Bank
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual question for lenders to set out who to contact to obtain standard documents.
Masthaven Bank in their Part 2’s state:
Please remember to quote your Masthaven Bank solicitors panel reference.
Find a Lawyer on the Masthaven Bank Conveyancing Panel
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Average number of days to register title including a charge in favour of Masthaven Bank
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Masthaven Bank Firms
- Draft Report on Title precedent for Masthaven Bank borrowers
- Draft Anti Money Laundering PolicyTemplate for Masthaven Bank panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Masthaven Bank lender panel
- Buy-to-Let help for Masthaven Bank
- Consent-to-Let help for Masthaven Bank
- Contractor Mortgages with Masthaven Bank
