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Atom Bank Solicitor Panel: Recently Asked Questions
Are Atom Bank Conveyancing panel solicitors obliged to disclose incentives?
Atom Bank’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
Many estate agents will be suffering if their clients start out on the buying process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many
conveyancing firms are only discovering when they begin working on a
case that they are no longer able to work with that lender. Given
the inevitable resultant delays in the transaction the chances of an
abortive deal increases dramatically. in the circumstances there is
understandable anguish on the part of the estate agent as a result of
the lost time should the client have to change lawyers.
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Atom Bank conveyancing panel?
In order to be on the Atom Bank conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Atom Bank) are as follows:
- You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
- Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
- To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
- To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
My firm is not on the
Atom Bank conveyancing panel as well other lenders.
My clients, who are getting a mortgage with Atom Bank still want me to act for them even though I am not on the
Atom Bank panel. Is it fine for me to use a firm down the road to act for
Atom Bank on mortgage aspect of the conveyancing?
Please tread carefully here as what you are intending may not be acceptable to the lender.
It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer.
You also need to make the costs implications and potential for delay very clear to your client.
If my application is successful will CQS accreditation guarantee my firm’s acceptance on to lenders conveyancing panels?
CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their panels. A number of mortgage companies now use the Conveyancing Quality Scheme accreditation as the starting point for Panel membership as is the case with Santander.
I am on the
Atom Bank
conveyancing panel and due to complete a remortgage within the next few weeks. I can not locate a Legal Charge for the client to sign.
Who do I contact at Atom Bank to request substitute deeds?
You should contact Atom Bank
to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express section for lenders to enumerate who to contact to obtain standard documents.
Atom Bank in their Part 2’s state:
You will need to disclose your Atom Bank conveyancing panel number.
Find a Lawyer on the Atom Bank Conveyancing Panel
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Average number of days to register title including a charge in favour of Atom Bank
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2025 | [no data] |
2024 | [no data] |
2023 | 41.2 |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Atom Bank Firms
- Draft Report on Title precedent for Atom Bank borrowers
- Draft Anti Money Laundering PolicyTemplate for Atom Bank panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Atom Bank lender panel
- Buy-to-Let help for Atom Bank
- Consent-to-Let help for Atom Bank
- Contractor Mortgages with Atom Bank