Fleet Mortgages Conveyancing Panel Information

The CML is an association rather than a regulator and therefore cannot advise on grievances against lenders. You can of course contact Lexsure to see if we can help.

The requirements to join the Fleet Mortgages conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

There are many reports available, five of which are as follows:

• Average time frame to send deeds to the lender (calculated from completion date or title registration)
• Evidence of undertaking logs
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Buy to Let transactions
• Average time frame to register charges at the Land Registry

There are various requirements 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 Fleet Mortgages immediately. Second, 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 Fleet Mortgages’s mortgage offer are correct. If they are not, please let Fleet Mortgages know as soon as possible as it will be necessary for Fleet Mortgages to check with the valuer whether the valuation needs to be revised. Fleet Mortgages conveyancing panel solicitors are not expected to assume the role of valuer. Fleet Mortgages are simply trying to ensure that the valuer has valued the property based on correct information. (c) Fleet Mortgages 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. Fleet Mortgages recommend that, if we send a copy of a valuation report that Fleet Mortgages 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 survey or comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Fleet Mortgages 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 Fleet Mortgages conveyancing panel

In the circumstances please explain on the form what action you have taken to find out the reasons behind cancellation of your Fleet Mortgages panel membership. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You should communicate with Fleet Mortgages to obtain standard documents. The CML Handbook has a specific question for lenders to cite who to contact to obtain standard documents. Fleet Mortgages in their Part 2’s state: You will need to disclose your Fleet Mortgages solicitors panel number.