ModaMortgages Conveyancing Panel Information

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

In the same way that there is a unique ModaMortgages 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.

With mortgage companies and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the ModaMortgages conveyancing panel but for all mortgage panel listings

Your insurance brokers are your best port of call to address this question. 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 ModaMortgages solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to get in touch with ModaMortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit question for banks to set out who to contact to obtain standard documents. ModaMortgages in their Part 2’s state: It is likely that you will need to quote the firm’s ModaMortgages conveyancing panel reference.