LiveMore Conveyancing Panel Information

The Council of Mortgage Lender requirements of LiveMore are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment 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 LiveMore’s interest. To be absolutely sure of LiveMore requirements in this regard please check the Terms and Conditions of LiveMore’s conveyancing panel membership.

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the LiveMore conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

Given that your firm in is on the LiveMore conveyancing panel and you are representing 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 LiveMore are to lend, they may require indemnity insurance. In any event,you will need to check LiveMore’s specific requirements. Notwithstanding whether LiveMore will lend in such circumstances you still need to advise the borrower (unless you are acting for LiveMore alone) as to the risks of buying a property with an insolvent or absentee landlord.

With lenders and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the LiveMore conveyancing panel but for all bank panel listings

In the circumstances please clarify on the form what steps you have taken to find out 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 putting you on notice?

You should communicate with LiveMore to obtain standard documents. The CML Handbook has an explicit question for banks to establish who to contact to obtain standard documents. LiveMore in their Part 2’s state: It helps to quote your LiveMore solicitors panel reference.