MPowered Mortgages Conveyancing Panel Information

The fact of the matter is that estate agents will be feeling the pain if their clients start out on the conveyancing process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

In the same way that there is a unique MPowered Mortgages 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.

15 borrowers attempt to locate a conveyancer on the MPowered Mortgages panel each month in Hendon. Please contact the team at lenderpanel.com to see how your firm can be identified by those searching for conveyancing in Hendon.

In this situation please explain on the form what steps you have taken to discover the reasons behind cancellation of your MPowered Mortgages panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You need to communicate with MPowered Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook includes a specific inquiry for lenders to establish who to contact to obtain standard documents. MPowered Mortgages in their Part 2’s state: Don’t forget to quote the firm’s MPowered Mortgages solicitors panel number.