Kensington Mortgage Conveyancing Panel Information

UK Finance Designator: Kensington Mortgage Company Ltd
Jurisdiction: England and Wales

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Kensington Mortgage and to assist in remaining on the Kensington Mortgage Solicitor Panel.

Find a Lawyer on the Kensington Mortgage Solicitor Panel

powered by LenderPanel

Kensington Mortgage Conveyancing Panel: Recently Asked Questions

my firm is on the Kensington Mortgage conveyancing panel. Can I get an archived copy of a Kensington Mortgage Part 2 from the CML?
The CML do not hold historic copies of P2 requirements pre-December 2010. The CML advise that you make a request of Kensington Mortgage directly.

Read More

Can you give me an example of some of the reports available via COMPLETIONmonitor to support my appeal to be reinstated on the Kensington Mortgage solicitor panel?
There are many reports available, five of which are as follows:
  • Average time frame to send deeds to the lender (calculated from completion date or title registration)
  • Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
  • Current and historic missed priority dates
  • Average mortgage advance
  • Buy to Let transactions
I seldom receive a copy of a lender valuation any more. Do my Kensington Mortgage conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Kensington Mortgage as the lender?
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 Kensington Mortgage immediately. Second, 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 Kensington Mortgage’s mortgage offer are correct. If they are not, please let Kensington Mortgage know as soon as possible as it will be necessary for Kensington Mortgage to check with the valuer whether the valuation needs to be revised. Kensington Mortgage conveyancing panel solicitors are not expected to assume the role of valuer. Kensington Mortgage are simply trying to ensure that the valuer has valued the property based on correct information. Thirdly, Kensington Mortgage 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. Kensington Mortgage recommend that, if we send a copy of a valuation report that Kensington Mortgage 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 comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Kensington Mortgage 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 Kensington Mortgage conveyancing panel
Where can I find the Kensington Mortgage conveyancing panel requirements in respect of Transfer of Equity Conveyancing?
Kensington Mortgage approved panel lawyers are bound by the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Kensington Mortgage require, the deed of covenant on their behalf. You will need to check Kensington Mortgage CML Part 2 conditions to see if Kensington Mortgage have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Kensington Mortgage conveyancing panel
My conveyancing assistant has resigned on short notice. I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to Kensington Mortgage once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Kensington Mortgage?
Kensington Mortgage will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the Kensington Mortgage conveyancing panel.
Marsh’s PI Insurance renewal form enquires if my firm had been removed off any bank panels in the last year. I just found out that the firm is no longer on the Kensington Mortgage conveyancing panel? Is this likely to impact my insurance?
The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Kensington Mortgage solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
My firm is listed on the Kensington Mortgage conveyancing panel and due to complete a purchase shortly. I dont have a Legal Charge for the client to execute. Who do I contact at Kensington Mortgage to request substitute deeds?
You would be advised to communicate with Kensington Mortgage to obtain standard documents. The CML Handbook incorporates an individual question for banks to reveal who to contact to obtain standard documents. Don’t forget to quote the firm’s Kensington Mortgage solicitors panel reference.

Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 10/09/2019 CML
10.9 26/07/2019 CML
12.3.1 26/07/2019 CML
5.5.4 26/07/2019 CML Restrictive Covenant Indemnity Insurance
14.2.2 26/06/2019 CML
4.1 06/11/2017 CML
16.3.7a 31/03/2016 CML
16.5.3d 31/03/2016 CML
17.1.1 31/03/2016 CML
5.16.2 31/03/2016 CML

Last update 15/11/2019

Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors

'