Masthaven Bank Conveyancing Panel Information

The requirements to join the Masthaven Bank conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

One might ordinarily expect Masthaven Bank via their Part Two obligations to address this but the Handbook is silent on deadlines to send deeds. Do look at the Terms of Masthaven Bank’s Conveyancing Panel Appointment that you previously signed. For a number of banks these Terms contain a provision along the following lines: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Masthaven Bank informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

In order to be on the Masthaven Bank conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Masthaven Bank) are as follows:

• To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
• Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.

With banks and conveyancers working so closely with one another 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

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 adversely impact your firm’s application but gives the CQS team a complete picture of what has gone on.

You need to communicate with Masthaven Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express question for lenders to establish who to contact to obtain standard documents. Masthaven Bank in their Part 2’s state: Always remember to quote your Masthaven Bank solicitors panel number.