Masthaven Bank Conveyancing Panel Information

The Council of Mortgage Lender requirements of Masthaven Bank are silent on this. Most lenders deal with the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Masthaven Bank’s interest. To be absolutely sure of Masthaven Bank requirements in this regard please check the Terms and Conditions of Masthaven Bank’s conveyancing panel membership.

There are many reports available, five of which are as follows:

• Average mortgage advance
• Evidence of undertaking logs
• Number of conveyancing cases by lender
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Masthaven Bank as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Masthaven Bank we suggest that you call Masthaven Bank to check the position.

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 negatively affect your application but gives the CQS team a complete picture of what has gone on.

You would be advised to communicate with Masthaven Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual inquiry for lenders to establish who to contact to obtain standard documents. Masthaven Bank in their Part 2’s state: Don’t forget to quote your Masthaven Bank solicitors panel reference.