Landmark Conveyancing Panel Information

The CML, along with Landmark and other lenders created a standard set of requirements where a solicitor is acting for a lender such as Landmark alone in a residential conveyancing matter. These legal instructions are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Part I and II. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.

One might ordinarily expect Landmark via their Part 2 obligations to address this but the Handbook is silent on deadlines to send deeds. Do look at the Terms of Landmark’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms include a clause such as: ‘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’ It is imperative to keep Landmark updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

In order to be on the Landmark 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 Landmark) are as follows:

• 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.)
• To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
• 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.

There are various requirements are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Landmark immediately. Second, You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Landmark’s mortgage offer are correct. If they are not, please let Landmark know as soon as possible as it will be necessary for Landmark to check with the valuer whether the valuation needs to be revised. Landmark conveyancing panel solicitors are not expected to assume the role of valuer. Landmark are simply trying to ensure that the valuer has valued the property based on correct information. (III) Landmark recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Landmark recommend that, if we send a copy of a valuation report that Landmark have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Landmark or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Landmark conveyancing panel

In this situation please clarify on the application what steps you have taken to discover the reasons behind cancellation of your Landmark panel membership. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You should get in touch with Landmark to obtain standard documents. The CML Handbook incorporates a specific section for lenders to establish who to contact to obtain standard documents. Landmark in their Part 2’s state: It is likely that you will need to disclose your Landmark conveyancing panel number.