Mortgage Express (No 2) Conveyancing Panel Information

The fact of the matter is that estate agents are suffering if their clients start out on the buying process having appointed a conveyancer 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 lawyers.

Lexsure only know of a couple of lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Mortgage Express (No 2). At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Mortgage Express (No 2)

In order to be on the Mortgage Express (No 2) conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Mortgage Express (No 2)) are as follows:

• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
• That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Mortgage Express (No 2) as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Mortgage Express (No 2) we suggest that you call Mortgage Express (No 2) to check the position.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Mortgage Express (No 2) solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to get in touch with Mortgage Express (No 2) to obtain standard documents. The CML Handbook incorporates an individual question for lenders to enumerate who to contact to obtain standard documents. Mortgage Express (No 2) in their Part 2’s state: Please remember to quote the firm’s Mortgage Express (No 2) solicitors panel reference.