LiveMore Conveyancing Panel Information

There are many reports available, five of which are as follows:

• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Current and historic missed priority dates
• Number of conveyancing cases by lender
• Average mortgage advance

In the same way that there is a unique LiveMore conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

LiveMore approved panel lawyers are bound by the UK Finance Lenders’ Handbook 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 LiveMore require, the deed of covenant on their behalf. You will need to check LiveMore CML Part 2 conditions to see if LiveMore 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 LiveMore conveyancing panel

In the circumstances please explain on the application what steps you have taken to find out the reasons behind cancellation of your LiveMore panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender putting you on notice?

You would be advised to contact LiveMore to obtain standard documents. The CML Handbook incorporates an explicit section for lenders to enumerate who to contact to obtain standard documents. LiveMore in their Part 2’s state: It helps to quote your LiveMore conveyancing panel reference.