Better HomeOwnership Conveyancing Panel Information

There are thousands of firms across the UK who feel aggrieved claiming that they have been removed from lenders’ panels without an explanation or a good reason. It is highly unlikely, given that lenders have distanced themselves from creating a standardised appeals process for brokers, that an appeals process will be introduced for lawyers. Commenting on the call by brokers to have a standardised process the CML said’ “While we understand that some lenders do have an appeals process, it would not be appropriate for a trade body such as the CML to seek to be prescriptive about such a process.” Some lenders do of course set out an appeals policy. The Law Society does have information on it’s site that may be of assistance. If you would like to talk to one of our compliance experts about our Lender Panel Protection Service please complete the form here.

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 Better HomeOwnership conveyancing panel. Is possible next month that Better HomeOwnership change their requirements as to where the post completion documents should be sent. Do you update the details in your case management system? Is this recorded anywhere? Is this communicated to the staff? In your Certificate of Title to Better HomeOwnership you are giving assurances that you will send the deeds within 10 days of receiving the TID. Leaving to one side whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of Better HomeOwnership 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 It will not be a valid excuse to say that you sent it to an out of date postal address or DX details.