Aldermore Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk management tool.

This software optimises the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Aldermore Bank’s changes. While using COMPLETIONmonitor is not a prerequisite for Aldermore Bank , demonstrating you can stay up to date with Aldermore Bank’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Aldermore Bank

Lenders often change their requirements. The UK Finance Lenders’ Handbook requirements from Aldermore Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Aldermore Bank has made 149 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 18.3 days. In total, 32% of the sections of P2 of the UK Finance Lenders’ Handbook for Aldermore Bank have been changed since 15/12/2008.

To find out more about lender panel compliance,

Book a Personalised Demo

Recent Changes Include

# Date Assoc. Changes Related To
5.14.1 02/03/2020 CML
5.14.9 02/03/2020 CML
5.15.2c 02/03/2020 CML
8.1 02/03/2020 CML
6.7.1 24/02/2020 CML
6.7.4 19/11/2019 CML
14.2.2 18/03/2019 CML
6.7.1 15/05/2017 CML
14.1.4 01/05/2017 CML
1.11a 23/02/2016 CML

Last update 03/04/2020

Aldermore Bank Solicitor Panel Sample Enquires to our Call Center from members of the public

My Solicitor is not on the Aldermore Bank Conveyancing Panel. Can I still retain my preferred solicitor notwithstanding that they are excluded from the Aldermore Bank panel of approved conveyancing solicitors?
You have a number of options available to you here:
  1. Complete the purchase with your existing lawyers but Aldermore Bank will need to instruct a lawyer on the Aldermore Bank conveyancing panel. This will result in additional cost and potential delay.
  2. Get a new solicitor to act in the purchase, obviously checking they are on the Aldermore Bank conveyancing panel.
  3. Urge your lawyer to apply to join the Aldermore Bank lender panel
Our property lawyer has requested from me identification documents saying that this is part of his obligations as a solicitor on the Aldermore Bank Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Aldermore Bank your lawyer also has to check ID documents to satisfy Aldermore Bank
I am looking to buy a property and need a conveyancing solicitor in London who is on the Aldermore Bank conveyancing. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Aldermore Bank . We don’t recommend any particular firm.
I am selling my house. Does my solicitor have to be on the Aldermore Bank conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all Conveyancing Quality Solicitors on the Aldermore Bank conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
When it comes to lenders such as Aldermore Bank do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Sometime soon me and my wife are taking a long lease of a penthouse in Hendon. Conveyancing solicitors in Hendon will soon beretained. My friendrecommended that we enquire that the property lawyer in Hendon is on the Aldermore Bank list of approved conveyancing firms. Surely I don't need to do this, do I?
Not all Hendon conveyancing practices are on the Aldermore Bank conveyancing panel. 5 people a month use our search tool to locate a Hendon conveyancing lawyer on the on the Aldermore Bank list of approved conveyancing firms.