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Perenna Solicitor Panel: Recently Asked Questions
Perenna has instructed me to act for them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
Perenna conveyancing panel) How does this operate and are there different instructions from Perenna in this case?
The Council of Mortgage Lenders, along with
Perenna and other lenders created a standard set of requirements where a conveyancer is representing a lender such as Perenna alone in a residential conveyancing matter.
These obligations are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be read together with Sections One and Two.
The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.
Is it true that the Law Society has recommended that firms check their status on the
Perenna conveyancing panel?
The Scottish Law Society has advised that solicitors should check their lender panel status prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Perenna conveyancing panel. The recommendation 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
Given my firm’s membership on the Perenna conveyancing panel how long am I expected to retain the original conveyancing file?
The CML Part II requirements of
Perenna are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect Perenna’s interest. To be
absolutely sure of Perenna requirements in this regard
please check the Terms and Conditions of Perenna’s
conveyancing panel appointment.
My firm is on the
Perenna conveyancing panel. I am dealing with
Perenna mortgage on a purchase. My borrower client is asking not to disclose an issue to
Perenna. What do I do in this conflict situation?
When a solicitor is acting for both
Perenna and borrower there is potential for conflicts
to arise. You owe duties to both clients. All information received by
you from your client is confidential and cannot be disclosed without
the client’s consent. In the situation you find yourself in if the
purchaser will not consent to the information being passed on to the
lender the solicitor must cease to act for the Perenna
and it may well be prudent you to cease to act for the purchaser as
well. You can not tell the Perenna the reason for
termination of the retainer over and above the fact that a conflict
has arisen. The fact that you can no longer act should alert even the
most somnambulistic of lenders that something is wrong with the
borrower and/or purchase. The fact that you have disinstructed
yourself should not affect your Perenna conveyancing
panel status.
My conveyancing assistant has resigned unexpectedly.
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.
Prime Professional’s PI Insurance renewal form enquires if my firm had been removed off any mortgage panels in the last 12 months.
I recently found out that the practice is no longer on the
Perenna conveyancing panel? Is this likely to effect my PII cover?
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 Perenna solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
I am on the
Perenna
conveyancing panel and scheduled to complete a purchase within the next week. My file does not contain a Legal Charge for the client to sign.
Who do I contact at Perenna to obtain duplicate documents?
You need to get in touch with Perenna
to obtain standard documents. The CML Handbook contains an express question for banks to reveal who to contact to obtain standard documents.
Perenna in their Part 2’s state:
It is likely that you will need to disclose the firm’s 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
