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St James Place Solicitor Panel: Recently Asked Questions
St James Place wants me to conduct due diligence for them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
St James Place conveyancing panel) How does this operate and are there different requirements from St James Place in this circumstance?
The Council of Mortgage Lenders, together with
St James Place and other stakeholders developed a standard set of instructions where a conveyancer is acting for a lender such as St James Place alone in a residential conveyancing matter.
These obligations are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Parts 1 & 2.
The CML have published an example requirements letter to the borrower’s lawyer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the St James Place conveyancing panel?
In order to be on the St James Place 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 St James Place) are as follows:
- 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 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.
- 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.
- 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.
I have read a number of legal articles recently about firms being sued for non-compliance with Part 2 requirements . I am on the
St James Place conveyancing panel can you tell me how Part 2 changes took place by
St James Place during 2013?
During 2013, 14 sections of the UK Finance Lenders’ Handbook P2 were changed by
St James Place. Some changes are more important than others but as a firm on the
St James Place conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: CML requirements are not guidelines; they are the lender client’s instructions.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on numerous lender panels including the
St James Place conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Do I disclose these these Conditions ?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations.
You have to try and take an objective view as to whether the Terms relating to the
St James Place conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
Are figures published revealing the
St James Place conveyancing panel size as well as the number of conveyancing firms dismissed each year?
With mortgage companies and conveyancers working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the
St James Place conveyancing panel but for all bank panel listings
my firm’s membership of the
St James Place conveyancing panel was revoked but was reinstated on appeal, do I need to include this information on my application for CQS accreditation?
It would be advisable to 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 adversely impact your firm’s application but gives the Law Society a complete picture of what has gone on.
I am on the
St James Place
conveyancing panel and all set to complete a remortgage within the next week. My papers do not include a Mortgage Deed for the client to execute.
Who do I contact at St James Place to obtain duplicate documents?
You should get in touch with St James Place
to obtain standard documents. The CML Handbook incorporates an individual question for banks to reveal who to contact to obtain standard documents.
St James Place in their Part 2’s state:
You will need to quote the firm’s St James Place conveyancing panel number.
Find a Lawyer on the St James Place Conveyancing Panel
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Average number of days to register title including a charge in favour of St James Place
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited St James Place Firms
- Draft Report on Title precedent for St James Place borrowers
- Draft Anti Money Laundering PolicyTemplate for St James Place panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the St James Place lender panel
- Buy-to-Let help for St James Place
- Consent-to-Let help for St James Place
- Contractor Mortgages with St James Place
