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Bluestone Mortgages Solicitor Panel: Recently Asked Questions
Is it true that the Law Society has recommended that firms check their status on the
Bluestone Mortgages conveyancing panel?
The Law Society of Scotland has suggested that solicitors should check their panel status with lenders prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Bluestone Mortgages conveyancing panel. The suggestion arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel?
Many estate agents will be suffering 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.
I have read a number of legal articles recently about firms being sued for non-compliance with Part 2 requirements . I am on the
Bluestone Mortgages conveyancing panel can you tell me how Part 2 changes took place by
Bluestone Mortgages during 2013?
During 2013, 30 sections of the UK Finance Lenders’ Handbook P2 were changed by
Bluestone Mortgages. Some changes are more important than others but as a firm on the
Bluestone Mortgages conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: CML requirements are not guidelines; they are the lender client’s instructions.
My firm is on the
Bluestone Mortgages conveyancing panel. I am dealing with
Bluestone Mortgages mortgage on a purchase. My borrower client is asking not to disclose an issue to
Bluestone Mortgages. What do I do in this conflict situation?
When a solicitor is acting for both
Bluestone Mortgages and borrower there is potential for conflicts
to arise. You owe duties to both clients. All information received by
you from your client is confidential and cannot be disclosed without
the client’s consent. In the situation you find yourself in if the
purchaser will not consent to the information being passed on to the
lender the solicitor must cease to act for the Bluestone Mortgages
and it may well be prudent you to cease to act for the purchaser as
well. You can not tell the Bluestone Mortgages the reason for
termination of the retainer over and above the fact that a conflict
has arisen. The fact that you can no longer act should alert even the
most somnambulistic of lenders that something is wrong with the
borrower and/or purchase. The fact that you have disinstructed
yourself should not affect your Bluestone Mortgages conveyancing
panel status.
My lawyers pass me the odd LENDERmonitor alert but I rarely see change of note. For example, I am on the
Bluestone Mortgages conveyancing panel and get an alerts simply telling me a change of address. Why is that of any relevance?
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 their panel firm send the deeds.
Do you update the details in your case management system? 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 relevant documents within 10 days of receiving the Title Information Document. Putting to one side the academic question as to whether you are in breach of 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 asks if my practice had been removed off any bank panels in the last year.
I recently became aware that the practice is no longer on the
Bluestone Mortgages conveyancing panel? Will that impact my PII cover?
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.
My firm is listed on the
Bluestone Mortgages
conveyancing panel and due to complete a purchase shortly. I dont have a Legal Charge for the client to sign.
Who do I contact at Bluestone Mortgages to obtain duplicate documents?
You would be advised to get in touch with Bluestone Mortgages
to obtain standard documents. The CML Handbook has an explicit question for lenders to enumerate who to contact to obtain standard documents.
Bluestone Mortgages in their Part 2’s state:
You will need to disclose your Bluestone Mortgages conveyancing panel number.
Find a Lawyer on the Bluestone Mortgages Conveyancing Panel
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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* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [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
