Mortgage Express Conveyancing Panel Information

We only know of two or three banks that operate a separate approved solicitors panel where the mortgage advance is over a certain amount. You should nevertheless check directly with Mortgage Express. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Mortgage Express

The CLC has begun dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as Mortgage Express as well as the BSA.

You will be aware of the trend in recent years for lenders such as Mortgage Express to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the Mortgage Express panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and Mortgage Express have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires Mortgage Express’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for Mortgage Express. You will no doubt be required to undertake directly to Mortgage Express’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off the Mortgage Express conveyancing panel.

10 borrowers attempt to locate a conveyancer on the Mortgage Express panel every 4 weeks in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be found by those searching for conveyancing in Hendon.

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 solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to communicate with Mortgage Express to obtain standard documents. The The Council of Mortgage Lenders Handbook has a specific section for banks to cite who to contact to obtain standard documents. Mortgage Express in their Part 2’s state: Don’t forget to quote your Mortgage Express solicitors panel number.