Platform Conveyancing Panel Information

Lexsure only know of two or three banks that operate a distinct conveyancing panel where the mortgage advance is over a certain amount. You should nevertheless check directly with Platform. 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 Platform

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Platform conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Full disciplinary history for each licensed conveyancer

Whether the firm is able to operate in other jurisdictions

List of all those who can sign off the Certificate Of Title

House price discrepancies (declared to lender vs. registered at Land Registry)

Full career history for each solicitor including admission date to the relevant Law Society

Summary of annual accounts

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

Full disciplinary history for each conveyancing solicitor

List of all Licensed Conveyancers within firm

Platform approved solicitors are bound by the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Platform require, the deed of covenant on their behalf. You will need to check Platform CML Part 2 conditions to see if Platform have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Platform conveyancing panel

With banks and property lawyers 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 Platform conveyancing panel but for all bank panels

We would recommend that you provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the Law Society a complete picture of what has occured.

You should contact Platform to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific question for banks to set out who to contact to obtain standard documents. Platform in their Part 2’s state: You will need to quote the firm’s Platform solicitors panel reference.