Bluestone Mortgages Conveyancing Panel Information

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

• Current and historic missed priority dates
• Evidence of undertaking logs
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Number of conveyancing cases by lender
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Bluestone Mortgages as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Bluestone Mortgages we suggest that you call Bluestone Mortgages to check the position.

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 Bluestone Mortgages conveyancing panel to see if you are entitled to a reason.

Bluestone Mortgages approved panel lawyers have to comply with the UK Finance Lenders’ Handbook 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 Bluestone Mortgages require, the deed of covenant on their behalf. You will need to check Bluestone Mortgages CML Part 2 conditions to see if Bluestone Mortgages 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 Bluestone Mortgages conveyancing panel

The best placed professionals to answer this question are your insurance brokers. 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.

You should contact Bluestone Mortgages to obtain standard documents. The CML Handbook includes a specific question for banks to enumerate who to contact to obtain standard documents. Bluestone Mortgages in their Part 2’s state: Always remember to disclose your Bluestone Mortgages solicitors panel reference.