Masthaven Bank Conveyancing Panel Information

The CML, along with Masthaven Bank and other lenders developed a standard set of requirements where a conveyancer is acting for a lender such as Masthaven Bank alone in a residential conveyancing transaction. These obligations are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

Although not necessarily published, lenders have varying 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):

Areas of Law covered by the firm

Number of lender conveyancing panels the firm is currently on

Full career history for each solicitor including admission date to the relevant Law Society

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.

Whether the firm has ever applied for accreditation and the outcome of the application

Full disciplinary history for each conveyancing solicitor

Structure of firm and, where applicable, its group

Whether any lender has ever made a claim against the firm’s PII cover

List of all Licensed Conveyancers within firm

List of all those who fund the firm, including non-lawyers if applicable

With lenders and conveyancers working so closely together it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Masthaven Bank conveyancing panel but for all lender panels

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 adversely impact your application but gives the Law Society viability as to what has occured.

You would be advised to get in touch with Masthaven Bank to obtain standard documents. The CML Handbook incorporates an explicit section for lenders to reveal who to contact to obtain standard documents. Masthaven Bank in their Part 2’s state: Always remember to disclose the firm’s Masthaven Bank solicitors panel reference.