First Direct Conveyancing Panel Information

The Council of Mortgage Lenders, together with First Direct and other lenders created a standard set of requirements where a conveyancer is representing a lender such as First Direct alone in a residential conveyancing transaction. These legal instructions are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.

You might expect First Direct via their Part 2 obligations to address this but the Handbook makes no mention on time frames. Do look at the Terms of First Direct’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms contain a clause 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 imperative to keep First Direct informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

With lenders and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the First Direct conveyancing panel but for all lender panels

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.

You need to get in touch with First Direct to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific question for banks to establish who to contact to obtain standard documents. First Direct in their Part 2’s state: Please remember to disclose your First Direct conveyancing panel number.