Looking for information about your firm's panel status?
GE Money Solicitor Panel: Recently Asked Questions
Do the Council of Mortgage Lenders intend to launch a searchable register search tool with a view
to list firms on the
GE Money conveyancing panel?
We are not aware of any intention on the part of the CML to develop such a register.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good
reason. It is highly unlikely, given that lenders have distanced
themselves from creating a standardised appeals process for
brokers, that an appeals process will be introduced for
lawyers. Commenting on the call by brokers to have a standardised
process the CML said’ “While we understand that some lenders do have
an appeals process, it would not be appropriate for a trade body such
as the CML to seek to be prescriptive about such a process.” Some
lenders do of course set out an appeals policy. The Law Society does
have information on it’s site that may be of assistance. If you would
like to talk to one of our compliance experts about our Lender Panel
Protection Service please complete the form here.
Am I obliged,
being on the
GE Money conveyancing panel, to carry out a LMO4 search?
GE Money make no specific obligation to carry out any of
the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must
ensure that any other searches which may be appropriate to the
particular property, taking into account its locality and other
features are carried out’.
Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as GE Money are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the borrower.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?
One search provider lists over 70 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as Searchflow.
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with CML PII obligations . I am on the
GE Money conveyancing panel can you tell me how Part 2 changes took place by
GE Money during 2013?
During 2013, 9 sections of the UK Finance Lenders’ Handbook P2 were changed by
GE Money. Some changes are more important than others but as a firm on the
GE Money conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: CML requirements are not guidelines; they are the lender client’s instructions.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on a number of bank panels including the
GE Money conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Do I disclose these these Conditions ?
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
GE Money 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.
my firm’s membership of the
GE Money conveyancing panel was terminated but was reinstated on appeal, do I need to include these details on my CQS application?
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 negatively affect your application but gives the Law Society viability as to what has occured.
Our practice is on the
GE Money
conveyancing panel and all set to complete a remortgage within the next few weeks. I can not locate a Mortgage Deed for the client to execute.
Who do I contact at GE Money to obtain duplicate documents?
You need to contact GE Money
to obtain standard documents. The CML Handbook contains an express question for banks to reveal who to contact to obtain standard documents.
GE Money in their Part 2’s state:
You will need to disclose your GE Money solicitors panel reference.
Find a Lawyer on the GE Money Conveyancing Panel
powered by LenderPanel
Average number of days to register title including a charge in favour of GE Money
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited GE Money Firms
- Draft Report on Title precedent for GE Money borrowers
- Draft Anti Money Laundering PolicyTemplate for GE Money panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the GE Money lender panel
- Buy-to-Let help for GE Money
- Consent-to-Let help for GE Money
- Contractor Mortgages with GE Money
