The Mortgage Lender Conveyancing Panel Information

The CML, together with The Mortgage Lender and other lenders developed a standard set of instructions where a conveyancer is acting for a lender such as The Mortgage Lender alone in a residential conveyancing transaction. These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancing solicitor 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 lawyer.

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by The Mortgage Lender. Some changes are more important than others but as a firm on the The Mortgage Lender 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.

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 The Mortgage Lender 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.

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 Lender conveyancing panel to see if you are entitled to a reason.

We would recommend that you provide 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 firm’s application but gives the CQS team a complete picture of what has gone on.

You need to communicate with The Mortgage Lender to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an individual section for banks to establish who to contact to obtain standard documents. The Mortgage Lender in their Part 2’s state: It helps to quote the firm’s The Mortgage Lender solicitors panel number.