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Lloyds Solicitor Panel: Recently Asked Questions
Are Lloyds Conveyancing panel solicitors under an obligation to disclose incentives?
Lloyds’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
I am on the Lloyds conveyancing panel. Can I get an archived copy of a Lloyds Part 2 from the CML?
The Council of Mortgage Lenders do not retain data sets of P2 requirements pre-December 2010. We would recommend you contact Lloyds directly.
Lloyds would like me to represent them alone on a residential conveyancing matter , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
Lloyds conveyancing panel) How will this operate and are there different instructions from Lloyds in this situation?
The CML, along with
Lloyds and other members created a standard set of requirements where a conveyancer is representing a lender such as Lloyds alone in a residential conveyancing matter.
These requirements are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Sections One and Two.
The CML have published an example requirements letter to the borrower’s conveyancer 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.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel 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 click
here.
JLT’s PII renewal form asks if my firm had been removed off any lender panels in the last year.
I recently found out that the practice is no longer on the
Lloyds solicitor panel? Is this likely to 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 Lloyds solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
Our practice is on the
Lloyds
conveyancing panel and all set to complete a remortgage within the next week. My file does not contain a Mortgage Deed for the client to sign.
Who do I contact at Lloyds to request substitute deeds?
You would be advised to get in touch with Lloyds
to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express inquiry for lenders to reveal who to contact to obtain standard documents.
Lloyds in their Part 2’s state:
Please remember to quote the firm’s Lloyds solicitors panel number.
Find a Lawyer on the Lloyds Solicitors Panel
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Average number of days to register title including a charge in favour of Lloyds
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2024 | [no data] |
2023 | 56.3 |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | 54.7 |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
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- Draft Report on Title precedent for Lloyds borrowers
- Draft Anti Money Laundering PolicyTemplate for Lloyds panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Lloyds lender panel
- Buy-to-Let help for Lloyds
- Consent-to-Let help for Lloyds
- Contractor Mortgages with Lloyds