Gen H Conveyancing Panel Information

The Council of Mortgage Lender requirements of Gen H are silent on this. Most lenders deal with the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Gen H’s interest. To be absolutely sure of Gen H requirements in this regard please check the Terms and Conditions of Gen H’s conveyancing panel membership.

One might ordinarily expect Gen H via their Part 2 conditions to address this but the Handbook is silent on time frames. Do look at the Terms of Gen H’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms contain a provision such as: ‘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’ It is important to keep Gen H informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

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 conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

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

It would be advisable to 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 firm’s application but gives the CQS team viability as to what has gone on.

You would be advised to communicate with Gen H to obtain standard documents. The The Council of Mortgage Lenders Handbook has an express section for lenders to cite who to contact to obtain standard documents. Gen H in their Part 2’s state: It is likely that you will need to quote your Gen H solicitors panel reference.