Aldermore Bank Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Aldermore Bank’s changes. Even though utilising the tool is not a prerequisite for Aldermore Bank , demonstrating you can remain up to date with Aldermore Bank’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your panel standing.

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

Find a Law Firm approved by Aldermore Bank

Mortgage companies frequently 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, frequently:

A Timeline of Policy Changes

Since 2008, Aldermore Bank has made 127 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 21.5 days. In total, 30% 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,

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Recent Changes Include

# Date Assoc. Changes Related To
14.2.2 18/03/2019 CML
14.2.2 01/05/2017 CML
5.4.4 01/05/2017 CML
6.7.1 28/03/2017 CML
14.2.1 22/02/2016 CML
5.20.3 22/02/2016 CML
3.2.4 08/02/2016 CML
5.19.1 08/02/2016 CML
6.14.1 30/11/2015 CML
6.14.1 16/12/2014 CML

Last update 22/09/2019

Frequently asked questions relating to the Aldermore Bank Solicitor Panel from members of the public

How easy is it to change a solicitor as I need to find one who is on the Aldermore Bank conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
Expecting to move into my new home next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Aldermore Bank. What risks do Aldermore Bank expect the insurance to cover?
All property lawyers on the Aldermore Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Aldermore Bank’s Part 2 requirements of the CML Handbook (last updated on Aldermore Bank). Being on the Aldermore Bank conveyancing panel your lawyer is expect to follow these instructions.
I am searching for conveyancing quotes online. Can I be confident that all the law firms that are identified on your site are on the Aldermore Bank conveyancing panel?
The law firms on our directory have advised us that they are on the Aldermore Bank panel and agreed to advise us to take down their listing in the event of removal off of the Aldermore Bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Aldermore Bank conveyancing panel is incorrect.
We're in Birmingham, FTBs buying with a mortgage (lender is Aldermore Bank , but our lawyer is on the Aldermore Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
When it comes to lenders such as Aldermore Bank do solicitors have to be pay a fee to be on the conveyancing panel?
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.
I recently had an offer accepted on an apartment. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 200. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Aldermore Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Sometime soon me and my wife are taking a long lease of a flat in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My fatherrecommended that we double-check that the conveyancing practitioner in Hendon is on the Aldermore Bank list of approved conveyancing firms. Is this right?
Far from all Hendon conveyancing firms are on the Aldermore Bank conveyancing panel. 5 people a month use our search tool to find a Hendon conveyancing practitioner on the on the Aldermore Bank list of approved conveyancing firms.