LiveMore Conveyancing Panel Information

Many estate agents are suffering if their clients start out on the buying process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

One might ordinarily expect LiveMore via their Part 2 requirements to address this but the Handbook is silent on time frames. Do look at the Terms of LiveMore’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms have a provision along the following lines: ‘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 LiveMore informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by LiveMore. Some changes are more important than others but as a firm on the LiveMore 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.

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 LiveMore conveyancing panel to see if you are entitled to a reason.

In this situation please explain on the form what steps you have taken to discover the reasons behind cancellation of your LiveMore panel membership. In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You should communicate with LiveMore to obtain standard documents. The CML Handbook includes a specific inquiry for banks to enumerate who to contact to obtain standard documents. LiveMore in their Part 2’s state: Don’t forget to disclose the firm’s LiveMore conveyancing panel reference.