Fleet Mortgages Conveyancing Panel Information

The CML, along with Fleet Mortgages and other stakeholders developed a standard set of instructions where a solicitor is representing a lender such as Fleet Mortgages alone in a residential conveyancing matter. These obligations 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 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 lawyer.

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Fleet Mortgages conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Full disciplinary history for each conveyancing solicitor

List of all those who fund the firm, including non-lawyers if applicable

conveyancer client account(s) details

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

Whether any lender has ever made a claim against the firm’s PII cover

List of all Licensed Conveyancers within firm

Details of any accreditation e.g. Lexcel or

Structure of firm and, where applicable, its group

List of all those who can sign off the Certificate Of Title

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Fleet Mortgages conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

When a solicitor is acting for both Fleet Mortgages and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Fleet Mortgages and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Fleet Mortgages the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Fleet Mortgages conveyancing panel status.

In this situation please explain on the application what action you have taken to find out the reasons behind cancellation of your Fleet Mortgages panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You would be advised to get in touch with Fleet Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook has a specific inquiry for lenders to set out who to contact to obtain standard documents. Fleet Mortgages in their Part 2’s state: Don’t forget to disclose the firm’s Fleet Mortgages solicitors panel number.