Looking for information about your firm's panel status?
Perenna Conveyancing Panel: Recently Asked Questions
Is it true that the Law Society has recommended that firms check their status on the
Perenna conveyancing panel?
The Law Society of Scotland has advised that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Perenna conveyancing panel. The suggestion arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com
What obligations do I have,
being on the
Perenna conveyancing panel, to carry out a LMO4 search?
Perenna make no specific obligation to carry out any of
the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must
ensure that any other searches which may be appropriate to the
particular property, taking into account its locality and other
features are carried out’.
Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Perenna are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?
A leading search supplier lists over 65 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as Searches UK.
Do banks such as
Perenna operate detached conveyancing panel for buy to let mortgages?
Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with
Perenna as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from
Perenna we suggest that you call
Perenna to check the position.
What type of firms do building societies accept on their Conveyancing Panels?
In the same way that there is a unique Perenna
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.
My conveyancing assistant has left my firm on short notice.
I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to
Perenna once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Perenna?
Perenna will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the
Perenna conveyancing panel.
Marsh’s PII renewal form questions if my practice had been excluded from any lender panels in the last 12 months.
I recently became aware that the practice is no longer on the
Perenna solicitor panel? Will that effect my PII premium?
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 Perenna solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
My firm is listed on the
Perenna
conveyancing panel and due to complete a purchase shortly. My papers do not include a Legal Charge for the client to execute.
Who do I contact at Perenna to request substitute deeds?
You should communicate with Perenna
to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an individual question for banks to cite who to contact to obtain standard documents.
Perenna in their Part 2’s state:
Don’t forget to quote your Perenna solicitors panel reference.
Find a Lawyer on the Perenna Conveyancing Panel
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Average number of days to register title including a charge in favour of Perenna
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Perenna Firms
- Draft Report on Title precedent for Perenna borrowers
- Draft Anti Money Laundering PolicyTemplate for Perenna panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Perenna lender panel
- Buy-to-Let help for Perenna
- Consent-to-Let help for Perenna
- Contractor Mortgages with Perenna
