Accord Mortgages Conveyancing Panel Information

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Accord Mortgages conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Accord Mortgages conveyancing panel to see if you are entitled to a reason.

You have a number of obligations in this regard which are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Accord Mortgages immediately. Second, You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Accord Mortgages’s mortgage offer are correct. If they are not, please let Accord Mortgages know as soon as possible as it will be necessary for Accord Mortgages to check with the valuer whether the valuation needs to be revised. Accord Mortgages conveyancing panel solicitors are not expected to assume the role of valuer. Accord Mortgages are simply trying to ensure that the valuer has valued the property based on correct information. (III) Accord Mortgages recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Accord Mortgages recommend that, if we send a copy of a valuation report that Accord Mortgages have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers report or comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Accord Mortgages or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Accord Mortgages conveyancing panel

In the circumstances please explain on the application what action you have taken to discover the reasons behind cancellation of your Accord Mortgages panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You would be advised to communicate with Accord Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an explicit section for lenders to establish who to contact to obtain standard documents. Accord Mortgages in their Part 2’s state: Please remember to quote your Accord Mortgages conveyancing panel reference.