Legal & General Home Finance Conveyancing Panel Information

We are not aware of any intention on the part of the CML to develop such a register.

The criteria to join the Legal & General Home Finance conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

The CML Part II requirements of Legal & General Home Finance are silent on this. Most lenders address the issue of file retention via their Terms and Conditions 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 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.

Assuming that your firm in is on the Legal & General Home Finance conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Legal & General Home Finance are to lend, they may require indemnity insurance. In any event,you will need to check Legal & General Home Finance’s specific requirements. Notwithstanding whether Legal & General Home Finance will lend in such circumstances you still need to advise the borrower (unless you are acting for Legal & General Home Finance alone) as to the risks of buying a property with an insolvent or absentee landlord.

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 viability as to what has happened.

You should contact Legal & General Home Finance to obtain standard documents. The CML Handbook incorporates a specific inquiry for lenders to enumerate who to contact to obtain standard documents. Legal & General Home Finance in their Part 2’s state: Always remember to quote the firm’s Legal & General Home Finance solicitors panel reference.