Fleet Mortgages Conveyancing Panel Information

The CML, along with Fleet Mortgages and other stakeholders developed a standard set of requirements where a solicitor is acting for a lender such as Fleet Mortgages alone in a residential conveyancing transaction. These legal instructions are contained at Part III of the UK Finance Lenders’ Handbook and are to be read in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancing solicitor 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.

In order to be on the Fleet Mortgages conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Fleet Mortgages) are as follows:

• To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
• That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
• Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
• 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.)

Please tread carefully here as what you are suggesting may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will 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.

With lenders and conveyancers working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Fleet Mortgages conveyancing panel but for all mortgage panel listings

In the circumstances please clarify on the form what action you have taken to discover 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 cessation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You need to contact Fleet Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific question for lenders to enumerate who to contact to obtain standard documents. Fleet Mortgages in their Part 2’s state: You will need to quote your Fleet Mortgages solicitors panel reference.