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Masthaven Bank Conveyancing Panel: Recently Asked Questions
Do the Council of Mortgage Lenders intend to launch a online directory search tool with a view
to to identify solicitors on the
Masthaven Bank conveyancing panel?
Lexsure has not been advised of any intention on the part of the CML to develop such a search facility.
Can you suggest any advice if we wish to lodge an appeal being removed from the
Masthaven Bank approved solicitor list?
If you are removed from the
Masthaven Bank conveyancing panel and you are unaware of or disagree with the reasons for your removal you should: (a) Contact
Masthaven Bank directly. (b) If there is an appeals process detailed on your letter you should follow the process.
In appealing a decision by Masthaven Bank, it may be useful to provide the following information:
- Full account of your conveyancing history
- A copy of your COMPLETIONmonitor reports if you use that service
- Your recent claims history
- comprehensive details of all staff in your firm and their position.
- Note down if a solicitor has been admitted to the role on completion of the Qualified Lawyers Transfer Test.
- Provide copy practising certificates, the firm's current professional indemnity policy and the firm’s accountant's certificate, confirming what % of the firm's gross fee income is generated from residential conveyancing transactions
On appeal some firms have been able to regain membership to panels notwithstanding the policy by the respective lenders to refuse panel membership to firms with certain profiles or characteristics. Success is primarily due to the firms’ ability to persuade the lender to make an exception if there is sufficient evidence to reassure them that the firm is well risk-managed.
I have been a qualified solicitor for nearly 30 years never having had a negligence claim and have been refused acceptance on the
Masthaven Bank conveyancing panel with no explanation. Am I not entitled to to know why?
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
Masthaven Bank conveyancing panel to see if you are entitled to a reason.
Are there any specific Masthaven Bank conveyancing panel obligations in respect of Transfer of Equity Conveyancing?
Masthaven Bank approved panel lawyers have to comply with the Part II 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
Masthaven Bank require, the deed of covenant on their behalf. You will need to check
Masthaven Bank CML Part 2 conditions to see if
Masthaven Bank 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
Masthaven Bank conveyancing panel
My conveyancing assistant has left my firm on short notice.
I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to
Masthaven Bank once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Masthaven Bank?
Masthaven Bank will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the
Masthaven Bank conveyancing panel.
my firm’s membership of the
Masthaven Bank conveyancing panel was terminated but was reinstated on appeal, do I need to include this information on my application for CQS accreditation?
We would recommend that you provide details of the date of removal, information on the reason for
removal, date of appeal and any reason given for reinstatement. This
should not negatively affect your firm’s application but gives the CQS team a complete picture of what has gone on.
Our practice is on the
Masthaven Bank
conveyancing panel and all set to complete a purchase within the next week. I can not locate a Mortgage Deed for the client to sign.
Who do I contact at Masthaven Bank to request substitute deeds?
You need to communicate with Masthaven Bank
to obtain standard documents. The CML Handbook includes a specific inquiry for banks to set out who to contact to obtain standard documents.
Masthaven Bank in their Part 2’s state:
Always remember to disclose your Masthaven Bank conveyancing panel number.
Find a Lawyer on the Masthaven Bank Conveyancing Panel
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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.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Masthaven Bank Firms
- Draft Report on Title precedent for Masthaven Bank borrowers
- Draft Anti Money Laundering PolicyTemplate for Masthaven Bank panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Masthaven Bank lender panel
- Buy-to-Let help for Masthaven Bank
- Consent-to-Let help for Masthaven Bank
- Contractor Mortgages with Masthaven Bank
