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The Mortgage Lender Conveyancing Panel: Recently Asked Questions
Do The Mortgage Lender or the CML run professional training seminars for the
The Mortgage Lender approved solicitor panel in much the same way that the Law Society run cases for CQS firms?
No such training is arranged by the CML however they do host a number of useful conveyancing related conferences which are attended by firms on the The Mortgage Lender conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on The Mortgage Lender’s Part 2 requirements. Law firms on the The Mortgage Lender conveyancing panel will be invited. Information about the webinar will be made available as part of the LENDERmonitor Alerts.
Am I obliged,
being on the
The Mortgage Lender conveyancing panel, to carry out a Cancel Search?
The Mortgage Lender make no specific obligation to carry out any of
the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must
ensure that any other searches which may be appropriate to the
particular property, taking into account its locality and other
features are carried out’.
Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as The Mortgage Lender are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?
One search supplier lists over 65 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as Searches UK.
Being on the The Mortgage Lender conveyancing panel how long am I obliged to archive the original conveyancing file?
The CML Part II requirements of
The Mortgage Lender are silent on this. Most lenders deal with the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect The Mortgage Lender’s interest. To be
absolutely sure of The Mortgage Lender requirements in this regard
please check the Terms and Conditions of The Mortgage Lender’s
conveyancing panel acceptance.
The firm that I work for is on the
The Mortgage Lender conveyancing panel. I am dealing with
The Mortgage Lender mortgage on a purchase. My borrower client is asking not to disclose an issue to
The Mortgage Lender. What do I do in this conflict situation?
When a solicitor is acting for both
The Mortgage Lender and borrower there is potential for conflicts
to arise. You owe duties to both clients. All information received by
you from your client is confidential and cannot be disclosed without
the client’s consent. In the situation you find yourself in if the
purchaser will not consent to the information being passed on to the
lender the solicitor must cease to act for the The Mortgage Lender
and it may well be prudent you to cease to act for the purchaser as
well. You can not tell the The Mortgage Lender the reason for
termination of the retainer over and above the fact that a conflict
has arisen. The fact that you can no longer act should alert even the
most somnambulistic of lenders that something is wrong with the
borrower and/or purchase. The fact that you have disinstructed
yourself should not affect your The Mortgage Lender conveyancing
panel status.
My lawyers pass me the odd LENDERmonitor alert but I seldom see significant changes. For example, I am on the
The Mortgage Lender conveyancing panel and receive a notification only advising of a change of address. Isn't that just noise?
Yes it does matter because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also impact your chances of staying on the
The Mortgage Lender solicitor panel. Is possible next month that The Mortgage Lender change their requirements as to where the post completion documents should be sent.
Do you update the details in your case management system? Do you make a note? Is this information passed on to secretaries and assistants? In your Certificate of Title to The Mortgage Lender you are giving assurances that you will send the relevant documents within 10 days of receiving the TID. Leaving to one side whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of
The Mortgage Lender suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to an out of date postal address or DX details.
Our membership of the
The Mortgage Lender conveyancing panel was revoked but was reinstated on appeal, do I need to include these details on my application for CQS accreditation?
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 application but gives the Law Society a complete picture of what has happened.
My firm is listed on the
The Mortgage Lender
conveyancing panel and scheduled to complete a purchase within the next few weeks. I can not locate a Mortgage Deed for the client to sign.
Who do I contact at The Mortgage Lender to get a duplicate Deed?
You should communicate with The Mortgage Lender
to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express question for banks to cite who to contact to obtain standard documents.
The Mortgage Lender in their Part 2’s state:
It helps to disclose your The Mortgage Lender conveyancing panel reference.
Find a Lawyer on the The Mortgage Lender Conveyancing Panel
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Average number of days to register title including a charge in favour of The Mortgage Lender
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
| 2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited The Mortgage Lender Firms
- Draft Report on Title precedent for The Mortgage Lender borrowers
- Draft Anti Money Laundering PolicyTemplate for The Mortgage Lender panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the The Mortgage Lender lender panel
- Buy-to-Let help for The Mortgage Lender
- Consent-to-Let help for The Mortgage Lender
- Contractor Mortgages with The Mortgage Lender
