Looking for information about your firm's panel status?
Bluestone Mortgages Conveyancing Panel: Recently Asked Questions
Can a firm register a complaint to the Council of Mortgage Lenders about being removed from the Bluestone Mortgages conveyancing panel?
The Council of Mortgage Lenders is not a regulator and therefore do not investigate complaints against lenders. You can of course contact Lexsure to see if we can help.
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 feeling the pain if their clients start out on the conveyancing 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.
Being on the Bluestone Mortgages conveyancing panel how long am I obliged to keep hold of the complete conveyancing file?
The Council of Mortgage Lender requirements of
Bluestone Mortgages are silent on this. Most lenders address the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect Bluestone Mortgages’s interest. To be
absolutely sure of Bluestone Mortgages requirements in this regard
please check the Terms and Conditions of Bluestone Mortgages’s
conveyancing panel acceptance.
A recent SRA survey reveals that 76% of
solicitors have been removed from a lender conveyancing panel. Bluestone Mortgages and other lenders have restricted their panel over
the years. Why?
In operating open conveyancing panels, lenders such as Bluestone Mortgages
face a number of fraud and negligence risks. While
there is no authoritative source of data on lender exposure to
solicitor–led mortgage fraud, anecdotal evidence from lenders
indicates exposure on individual cases are often in the millions of
pounds. The National Fraud Authority estimates that £1bn per year is
lost in mortgage -related frauds in total, which is seen as a
conservative estimate.
These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.
Bluestone Mortgages and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.
Every so often I read a LENDERmonitor email but I don't see that many important changes. For instance, My firm on the
Bluestone Mortgages conveyancing panel and get an alerts simply telling me a change of address. Does that matter?
Yes it does matter because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also impact your chances of staying on the
Bluestone Mortgages solicitor panel. Is possible next month that Bluestone Mortgages change their requirements as to where the post completion documents should be sent.
Do you update the details in your CMS? Do you make a note? Is this information passed on to secretaries and assistants? By virtue of your COT Bluestone Mortgages you are giving assurances that you will send the deeds within 10 days of receiving the TID. Putting to one side the academic question as to whether you are technically breaching an undertaking in sending it to the wrong address, you run the risk of
Bluestone Mortgages suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to their old address.
Marsh’s PI Insurance renewal form questions if my firm had been excluded from any bank panels in the last year.
I recently discovered that the practice is no longer on the
Bluestone Mortgages solicitor panel? Will that effect my PII premium?
Your insurance brokers are your best port of call to address this question.
The chances are that on the basis that you have not been removed for
fraud or negligence reasons that there will be little or no
impact. The main reason why a firm would be removed off of a lender
panel is due to low volume of conveyancing cases although there may be
a number of criteria for Bluestone Mortgages solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
I am on the
Bluestone Mortgages
conveyancing panel and scheduled to complete a purchase within the next week. My papers do not include a Legal Charge for the client to sign.
Who do I contact at Bluestone Mortgages to get a duplicate Deed?
You need to get in touch with Bluestone Mortgages
to obtain standard documents. The CML Handbook contains a specific inquiry for lenders to set out who to contact to obtain standard documents.
Bluestone Mortgages in their Part 2’s state:
It helps to disclose your Bluestone Mortgages conveyancing panel number.
Find a Lawyer on the Bluestone Mortgages Conveyancing Panel
powered by LenderPanel
Average number of days to register title including a charge in favour of Bluestone Mortgages
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 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 Bluestone Mortgages Firms
- Draft Report on Title precedent for Bluestone Mortgages borrowers
- Draft Anti Money Laundering PolicyTemplate for Bluestone Mortgages panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Bluestone Mortgages lender panel
- Buy-to-Let help for Bluestone Mortgages
- Consent-to-Let help for Bluestone Mortgages
- Contractor Mortgages with Bluestone Mortgages
