Bluestone Mortgages Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Bluestone Mortgages and to assist in remaining on the Bluestone Mortgages Conveyancing Panel.

Bluestone Mortgages Solicitor Panel: Recently Asked Questions

Bluestone Mortgages would like me to act for them alone on a residential conveyancing matter , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the Bluestone Mortgages conveyancing panel) How does this operate and are there different requirements from Bluestone Mortgages in this situation?
The CML, together with Bluestone Mortgages and other members created a standard set of instructions where a solicitor is representing a lender such as Bluestone Mortgages alone in a residential conveyancing transaction. These legal instructions are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.

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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.

It is possible that Bluestone Mortgages could request or audit my files as I am on the Bluestone Mortgages conveyancing panel. What do I do if I receive such a request?
We can't comment specifically on Bluestone Mortgages. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the borrower and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.

Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if she is in arrears with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.

The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.

Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Bluestone Mortgages conveyancing panel?
In order to be on the Bluestone Mortgages 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 Bluestone Mortgages) 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
  • If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
  • That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
  • 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 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 lawyers pass me the odd LENDERmonitor notification but I rarely see change of note. By way of illustration, Fortunately my practice on the Bluestone Mortgages conveyancing panel and get an alerts only advising of 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 their panel firm send the deeds. Do you update the details in your case management system? Is this recorded anywhere? Is this information passed on to secretaries and assistants? By virtue of your COT Bluestone Mortgages you are giving assurances that you will forward 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 an out of date postal address or DX details.
JLT’s PII renewal form enquires if my firm had been removed off any bank panels in the last year. I just found out that the firm 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 remortgage within the next few weeks. My file does not contain a Mortgage Deed for the client to sign. Who do I contact at Bluestone Mortgages to request substitute deeds?
You need to get in touch with Bluestone Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express question for banks to set out who to contact to obtain standard documents. Bluestone Mortgages in their Part 2’s state:
It helps to disclose the firm’s Bluestone Mortgages solicitors panel number.

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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.
YearDays*
2025 [no data]
2024 [no data]
2023 [no data]
2022 [no data]
2021 [no data]
2020 [no data]
* Data aggregated from sources including COMPLETIONmonitor