Atom Bank Conveyancing Panel Information

There are many reports available, five of which are as follows:

• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
• Average time frame to register charges at the Land Registry
• Current and historic missed priority dates
• Evidence of undertaking logs

Atom Bank approved panel lawyers have to comply with 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 Atom Bank require, the deed of covenant on their behalf. You will need to check Atom Bank CML Part 2 conditions to see if Atom Bank 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 Atom Bank conveyancing panel

6 borrowers attempt to locate a solicitor on the Atom Bank panel each month in Hendon. Please contact the team at lenderpanel.com to see how your firm can be listed by those searching for conveyancing in Hendon.

The Law Society’s CQS membership is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. Some Lenders now use the scheme as the starting point for Panel approval such as Santander.

You need to contact Atom Bank to obtain standard documents. The CML Handbook incorporates an explicit inquiry for lenders to enumerate who to contact to obtain standard documents. Atom Bank in their Part 2’s state: You will need to quote the firm’s Atom Bank conveyancing panel number.