Mortgage Express (No 2) Conveyancing Panel Information

In the same way that there is a unique Mortgage Express (No 2) 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.

During 2013, 21 sections of the UK Finance Lenders’ Handbook P2 were changed by Mortgage Express (No 2). Some changes are more important than others but as a firm on the Mortgage Express (No 2) 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: UK Finance requirements are not guidelines; they are the lender client’s instructions.

With lenders 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 Mortgage Express (No 2) conveyancing panel but for all lender panels

The best placed professionals to answer this question are your insurance brokers. 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 Mortgage Express (No 2) solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You should communicate with Mortgage Express (No 2) to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an explicit question for banks to cite who to contact to obtain standard documents. Mortgage Express (No 2) in their Part 2’s state: Always remember to quote your Mortgage Express (No 2) conveyancing panel number.