Legal & General Home Finance Conveyancing Panel Information

The Council of Mortgage Lenders, together with Legal & General Home Finance and other lenders developed a standard set of instructions where a conveyancer is representing a lender such as Legal & General Home Finance alone in a residential conveyancing matter. These legal instructions are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed together with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancer 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 conveyancer.

The CML Part II requirements of Legal & General Home Finance are silent on this. Most mortgage companies deal with the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 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 Legal & General Home Finance’s interest. To be absolutely sure of Legal & General Home Finance requirements in this regard please check the Terms and Conditions of Legal & General Home Finance’s conveyancing panel acceptance.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Legal & General Home Finance conveyancing panel to see if you are entitled to a reason.

You should provide 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 firm’s application but gives the CQS team viability as to what has gone on.

You should contact Legal & General Home Finance to obtain standard documents. The CML Handbook has an individual section for banks to enumerate who to contact to obtain standard documents. Legal & General Home Finance in their Part 2’s state: Always remember to disclose the firm’s Legal & General Home Finance conveyancing panel reference.