Lloyds Conveyancing Panel Information

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

Lloyds Solicitor Panel: Recently Asked Questions

Lloyds have asked me to conduct due diligence for them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the Lloyds conveyancing panel) How will this work and are there different instructions from Lloyds in this case?
The Council of Mortgage Lenders, together with Lloyds and other stakeholders developed a standard set of requirements where a conveyancer is acting for a lender such as Lloyds alone in a residential conveyancing matter. These legal instructions are contained at Part Three 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 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.

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What is the CLC doing to protect licensed conveyancers from being removed from lender panels?
The CLC has begun discussions with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Lloyds as well as the CML.
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Lloyds conveyancing panel?
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 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.)
  • 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 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.
  • 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.
My firm is not on the Lloyds conveyancing panel as well other lenders. My clients, who have applied for a mortgage with Lloyds would still like to instruct me even though I am not on the Lloyds panel. Is it fine for me to use a firm down the road to act for Lloyds on mortgage aspect of the conveyancing?
You need to be careful here as what you are proposing may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.
I seldom receive a copy of a lender valuation any more. Do my Lloyds conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Lloyds as the Mortgagee?
You have a number of obligations in this regard which you need to follow if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Lloyds immediately. (II) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Lloyds’s mortgage offer are correct. If they are not, please let Lloyds know as soon as possible as it will be necessary for Lloyds to check with the valuer whether the valuation needs to be revised. Lloyds conveyancing panel solicitors are not expected to assume the role of valuer. Lloyds are simply trying to ensure that the valuer has valued the property based on correct information. (c) Lloyds recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Lloyds recommend that, if we send a copy of a valuation report that Lloyds have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers report or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Lloyds or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Lloyds conveyancing panel
Marsh’s PII renewal form enquires if my firm had been excluded from any bank panels in the last year. I just became aware that the practice is no longer on the Lloyds solicitor panel? Is this likely to impact my PII cover?
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.
My firm is listed on the Lloyds conveyancing panel and due to complete a remortgage shortly. I can not locate a Mortgage Deed for the client to execute. Who do I contact at Lloyds to get a duplicate Deed?
You should get in touch with Lloyds to obtain standard documents. The CML Handbook contains a specific question for banks to set out who to contact to obtain standard documents. Lloyds in their Part 2’s state:
Don’t forget to disclose the firm’s Lloyds conveyancing panel reference.

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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.
YearDays*
2024 [no data]
2023 [no data]
2022 [no data]
2021 [no data]
2020 [no data]
2019 15.0
* Data aggregated from sources including COMPLETIONmonitor