The Mortgage Lender Conveyancing Panel Information

The CML, along with The Mortgage Lender and other stakeholders developed a standard set of instructions where a solicitor is acting for a lender such as The Mortgage Lender alone in a residential conveyancing transaction. These obligations are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancer 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 solicitor.

As is the case with the Law Society the Council of Licensed Conveyancers has begun discussions 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. We expect that that the CLC have been in touch with lenders such as The Mortgage Lender as well as the CML.

In the same way that there is a unique The Mortgage Lender 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.

With mortgage companies and solicitors 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 The Mortgage Lender conveyancing panel but for all lender panel listings

We would recommend that you supply 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 CQS team a complete picture of what has occured.

You need to contact The Mortgage Lender to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit inquiry for lenders to set out who to contact to obtain standard documents. The Mortgage Lender in their Part 2’s state: Always remember to disclose your The Mortgage Lender conveyancing panel number.