The Mortgage Business Conveyancing Panel Information

The Council of Mortgage Lenders is an association rather than a regulator and therefore do not advise on complaints against lenders. You can of course contact Lexsure to see if we can help.

Lexsure has not been advised of any intention on the part of the CML to develop such a search facility.

What you should do largely depends on the reason that your firm has been removed off the The Mortgage Business conveyancing panel. The top 3 reasons are as follows:

1. lack of transactions
2. the lawyer is a sole practitioner
3. as part of the HSBC panel reduction.

In these three circumstances it is unlikely that you would expected to take any action. Disclosure and other compliance considerations are more likely to be relevant if the reason for removal is due to breaches of lender requirements or allegations of fraud or negligence. Whether the reasoning should trigger a disclosable 'material' breach will depend on the firm and the circumstances around possible failures to comply with the SRA Authorisation Rules, and the SRA will judge each case on its own merits. Factors such as the detriment or risk of detriment to clients, the scale of the issue and overall impact on the firm will need to be considered in deciding whether a failure is 'material'. As the compliance officer you will need systems to identify patterns of breaches. Even if you don't consider there to be regulatory implications the firms COFA should give some thought to whether she/he needs to take any action as result of being removed from the The Mortgage Business conveyancing panel.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the The Mortgage Business conveyancing panel to see if you are entitled to a reason.

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 The Mortgage Business solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You should communicate with The Mortgage Business to obtain standard documents. The CML Handbook has an explicit inquiry for banks to reveal who to contact to obtain standard documents. The Mortgage Business in their Part 2’s state: It is likely that you will need to quote your The Mortgage Business conveyancing panel number.