Platform Conveyancing Panel Information

We only know of two or three lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Platform. 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 Platform

There are many reports available, five of which are as follows:

• Average mortgage advance
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Current and historic missed priority dates
• Average time frame to register charges at the Land Registry
• Number of conveyancing cases by lender

Please tread carefully here as what you are proposing may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

Given that your firm in is on the Platform conveyancing panel and you are representing them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Platform are to lend, they may require indemnity insurance. In any event,you will need to check Platform’s specific requirements. Notwithstanding whether Platform will lend in such circumstances you still need to advise the borrower (unless you are acting for Platform alone) as to the risks of buying a property with an insolvent or absentee landlord.

You should 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 negatively affect your application but gives the Law Society a complete picture of what has happened.

You need to contact Platform to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit question for banks to reveal who to contact to obtain standard documents. Platform in their Part 2’s state: Always remember to quote the firm’s Platform conveyancing panel reference.