Lloyds Conveyancing Panel Information

The Law Society of Scotland has suggested that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the Lloyds 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

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Lloyds conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Details of any accreditation e.g. Lexcel or

Full career history for each solicitor including admission date to the relevant Law Society

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

List of all Licensed Conveyancers within firm

List of fee-earners who are foreign qualified

Solicitor

List of all those staff who work within the conveyancing team

SRA or equivalent regulator registration number where applicable

Full disciplinary history for each conveyancing solicitor

In order to be on the Lloyds 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 Lloyds) are as follows:

• 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.
• 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.
• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• 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.)

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.

You should get in touch with Lloyds to obtain standard documents. The CML Handbook includes an individual section for banks to set out who to contact to obtain standard documents. Lloyds in their Part 2’s state: Don’t forget to quote the firm’s Lloyds solicitors panel number.