Masthaven Bank Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Masthaven Bank and to assist in remaining on the Masthaven Bank Conveyancing Panel.

Masthaven Bank Solicitor Panel: Recently Asked Questions

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What obligations do I have, being on the Masthaven Bank conveyancing panel, to carry out a flood search?
Masthaven Bank make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Masthaven Bank are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?

A leading search provider lists over 70 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as STL.

Being on the Masthaven Bank conveyancing panel how long am I expected to archive the complete conveyancing file?
The CML Part II requirements of Masthaven Bank are silent on this. Most lenders deal with 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 Masthaven Bank’s interest. To be absolutely sure of Masthaven Bank requirements in this regard please check the Terms and Conditions of Masthaven Bank’s conveyancing panel acceptance.
Do you have any idea what Lenders such as Masthaven Bank are asking for when it comes to applying to be on their approved conveyancing panel?
Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Masthaven Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
  • Whether any lender has ever made a claim against the firm’s PII cover
  • List of all solicitors within firm
  • Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.
  • Full disciplinary history for each conveyancing solicitor
  • Full career history for each solicitor including admission date to the relevant Law Society
  • Areas of Law covered by the firm
  • Structure of firm and, where applicable, its group
  • Number of lender conveyancing panels the firm is currently on
  • Whether the firm has ever applied for accreditation and the outcome of the application
  • List of all those who fund the firm, including non-lawyers if applicable
  • My partners and I run a small firm on the Masthaven Bank conveyancing panel. Do you have ideas as to how we can market our firm as conducting conveyancing in Hendon on the Masthaven Bank panel?
    11 consumers search for a solicitor on the Masthaven Bank panel on a monthly basis in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be listed by those searching for conveyancing in Hendon.
    my firm’s membership of the Masthaven Bank conveyancing panel was suspended but was reinstated on appeal, do I need to include this information on my application for CQS accreditation?
    We would recommend that you 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 CQS team viability as to what has happened.
    Our practice is on the Masthaven Bank conveyancing panel and all set to complete a remortgage within the next week. I dont have a Legal Charge for the client to execute. Who do I contact at Masthaven Bank to obtain duplicate documents?
    You should get in touch with Masthaven Bank to obtain standard documents. The CML Handbook contains an individual inquiry for lenders to set out who to contact to obtain standard documents. Masthaven Bank in their Part 2’s state:
    Please remember to quote your Masthaven Bank conveyancing panel reference.

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    Average number of days to register title including a charge in favour of Masthaven Bank
    This information relates to purchase only and not remortgages.
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    * Data aggregated from sources including COMPLETIONmonitor