Lloyds Conveyancing Panel Information

The Council of Mortgage Lenders is an association rather than a regulator and therefore will not advise on grievances against lenders. You can of course contact Lexsure to see if we can help.

Lexsure only know of two or three lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain amount. You should nevertheless check directly with Lloyds. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Lloyds

Please tread carefully here as what you are proposing may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Many lenders 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 conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

Assuming that your practice in is on the Lloyds conveyancing panel and you are instructed by them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Lloyds are to lend, they may require indemnity insurance. In any event,you will need to check Lloyds’s specific requirements. Notwithstanding whether Lloyds will lend in such circumstances you still need to advise the borrower (unless you are acting for Lloyds alone) as to the risks of buying a property with an insolvent or absentee freeholder.

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 would be advised to contact Lloyds to obtain standard documents. The The Council of Mortgage Lenders Handbook includes a specific section for banks to cite who to contact to obtain standard documents. Lloyds in their Part 2’s state: It helps to disclose the firm’s Lloyds solicitors panel number.