Mortgage Express Conveyancing Panel Information

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 Mortgage Express conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Number of partners per branch of the firm

The percentage of the firm’s business which is conveyancing (broken down into sale

Structure of firm and, where applicable, its group

List of all those who fund the firm, including non-lawyers if applicable

Areas of Law covered by the firm

Whether any lender has ever made a claim against the firm’s PII cover

Full complaints history for each licensed conveyancer

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Full complaints history for each conveyancing solicitor

Charge registration history

The CLC has initiated dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as Mortgage Express in recent years.

In order to be on the Mortgage Express 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) are as follows:

• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
• 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
• To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
• 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 keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)

In the same way that there is a unique Mortgage Express 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.

The best placed professionals to answer this question are your insurance brokers. 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 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 to obtain standard documents. The CML Handbook has an individual inquiry for lenders to cite who to contact to obtain standard documents. Mortgage Express in their Part 2’s state: You will need to disclose the firm’s Mortgage Express conveyancing panel reference.