GE Money Conveyancing Panel Information

The Council of Mortgage Lenders, along with GE Money and other lenders created a standard set of requirements where a conveyancer is acting for a lender such as GE Money alone in a residential conveyancing matter. These requirements are contained at Part Three of the UK Finance Lenders’ Handbook and are to be read in conjunction with Sections One and Two. The CML have published an example requirements letter to the borrower’s lawyer 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.

The criteria to join the GE Money conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the GE Money conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Areas of Law covered by the firm

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

Whether the firm has ever applied for accreditation and the outcome of the application

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

List of all those staff who work within the conveyancing team

Structure of firm and, where applicable, its group

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

Summary of annual accounts

purchase and remortgage)

Details of any accreditation e.g. Lexcel or

Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with GE Money as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from GE Money we suggest that you call GE Money to check the position.

You should supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the Law Society a complete picture of what has occured.

You need to contact GE Money to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express section for banks to establish who to contact to obtain standard documents. GE Money in their Part 2’s state: Don’t forget to disclose your GE Money solicitors panel reference.