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First Direct Solicitor Panel: Recently Asked Questions
Are First Direct Conveyancing panel solicitors duty bound to disclose incentives?
First Direct’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
I am on the First Direct conveyancing panel. Can I get an archived copy of a First Direct Part 2 from the CML?
The CML do not retain historic copies of P2 requirements pre-December 2010. The CML advise that you make a request of First Direct directly.
First Direct has instructed me to act for them alone on a residential conveyancing matter , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
First Direct conveyancing panel) How will this work and are there different requirements from First Direct in this case?
The Council of Mortgage Lenders, along with
First Direct and other stakeholders created a standard set of requirements where a conveyancer is acting for a lender such as First Direct alone in a residential conveyancing transaction.
These legal instructions are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Parts 1 & 2.
The CML have published an example requirements letter to the borrower’s lawyer 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.
Does my firm face suspension off the
First Direct solicitor panel if I have not sent the title deed on a purchase within a certain time frame from draw-down of funds?
One might ordinarily expect
First Direct via their Part 2 conditions to address this but the Handbook is silent on time frames. You need to look at the Terms of
First Direct’s Conveyancing Panel Appointment that you entered into. For many lender's these Terms contain a provision along the following lines:
‘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’ It is important to keep
First Direct updated.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
Every so often I read a LENDERmonitor email but I seldom see significant changes. For example, Fortunately my practice on the
First Direct conveyancing panel and receive a notification only advising of a change of address. Does that matter?
It is important that you take note of such changes because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also affect your ability to remain on the
First Direct conveyancing panel. Lets say that First Direct change their requirements as to where their panel firm send the deeds.
Do you update the details in your case management system? Do you make a note? Is this information passed on to secretaries and assistants? By virtue of your COT First Direct you are giving assurances that you will forward the deeds within 10 days of receiving the TID. Putting to one side the academic question as to whether you are technically breaching an undertaking in sending it to the wrong address, you run the risk of
First Direct 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 their old address.
Marsh’s PII renewal form enquires if my firm had been excluded from any mortgage panels in the last 12 months.
I just discovered that the practice is no longer on the
First Direct conveyancing 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 First Direct solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
Our practice is on the
First Direct
conveyancing panel and all set to complete a remortgage shortly. My papers do not include a Mortgage Deed for the client to sign.
Who do I contact at First Direct to get a duplicate Deed?
You would be advised to get in touch with First Direct
to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express inquiry for lenders to set out who to contact to obtain standard documents.
First Direct in their Part 2’s state:
It helps to quote the firm’s First Direct conveyancing panel reference.
Find a Lawyer on the First Direct Conveyancing Panel
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Average number of days to register title including a charge in favour of First Direct
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited First Direct Firms
- Draft Report on Title precedent for First Direct borrowers
- Draft Anti Money Laundering PolicyTemplate for First Direct panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the First Direct lender panel
- Buy-to-Let help for First Direct
- Consent-to-Let help for First Direct
- Contractor Mortgages with First Direct
