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

my firm is on the Bluestone Mortgages conveyancing panel. Can I get an archived copy of a Bluestone Mortgages Part 2 from the CML?
The Council of Mortgage Lenders do not hold data sets of P2 requirements pre-December 2010. The CML advise that you contact Bluestone Mortgages directly.

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Given my firm’s membership on the Bluestone Mortgages conveyancing panel how long am I expected to retain the complete conveyancing file?
The Council of Mortgage Lender requirements of Bluestone Mortgages are silent on this. Most lenders address the issue of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six 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.
Does my firm run the risk of removal off the Bluestone Mortgages solicitor panel if I have not sent the title deed on a purchase within a certain time frame from draw-down of funds?
You might expect Bluestone Mortgages via their Part 2 obligations to address this but the Handbook is silent on time frames. Do look at the Terms of Bluestone Mortgages’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms contain a provision such as: ‘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’ It is imperative to keep Bluestone Mortgages updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
As the nominated Compliance Officer for Legal Practice should I be thinking about SRA Handbook implications if my firm is suspended off the Bluestone Mortgages conveyancing panel?
The answer to this question really depends on the reason that your firm has been removed off the Bluestone Mortgages conveyancing panel. The top 3 reasons are as follows:
  1. lack of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction.
In these three circumstances it is unlikely that you would expected to take any action. Disclosure and other compliance considerations are more likely to be relevant if the reason for removal is due to breaches of lender requirements or allegations of fraud or negligence. Whether the reasoning should trigger a disclosable 'material' breach will depend on the firm and the circumstances around possible failures to comply with the SRA Authorisation Rules, and the SRA will judge each case on its own merits. Factors such as the detriment or risk of detriment to clients, the scale of the issue and overall impact on the firm will need to be considered in deciding whether a failure is 'material'. As the COLP you will need systems to identify patterns of breaches. Even if you don't consider there to be regulatory implications the firms COFA should give some thought to whether she/he needs to take any action as result of being removed from the Bluestone Mortgages conveyancing panel.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on numerous lender panels including the Bluestone Mortgages conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Should I reference these Conditions ?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Bluestone Mortgages conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.
Prime Professional’s PII renewal form questions if my practice had been removed off any bank panels in the last year. I recently discovered that the practice is no longer on the Bluestone Mortgages conveyancing panel? Will that effect my insurance?
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.
My firm is listed on the Bluestone Mortgages conveyancing panel and scheduled to complete a remortgage within the next week. I dont have a Legal Charge for the client to sign. Who do I contact at Bluestone Mortgages to obtain duplicate documents?
You should communicate with Bluestone Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit section for lenders to establish who to contact to obtain standard documents. Bluestone Mortgages in their Part 2’s state:
Always remember to disclose the firm’s Bluestone Mortgages conveyancing 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*
2022 [no data]
2021 [no data]
2020 [no data]
2019 53.0
2018 [no data]
2017 [no data]
* Data aggregated from sources including COMPLETIONmonitor