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 management tool.

This system is the only way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Aldermore Bank’s changes. Notwithstanding that using the tool is not a condition for being on the Aldermore Bank panel, demonstrating you can remain up to date with Aldermore Bank’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your firm’s panel standing.

The system generates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by Aldermore Bank

Lenders frequently vary 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
1.11a 01/05/2017 CML
14.2.2 01/05/2017 CML
5.4.4 01/05/2017 CML
6.7.1 26/09/2016 CML
1.11a 23/02/2016 CML
14.2.1 22/02/2016 CML
5.1.1 22/02/2016 CML
3.2.4 08/02/2016 CML
6.7.6 08/02/2016 CML
6.14.1 30/11/2015 CML

Last update 24/05/2019

Aldermore Bank Solicitor Panel Example Support Desk Enquires from members of the public

What is the rationale as to why all UK lawyers aren't included on the Aldermore Bank Solicitor panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
My conveyancer has spotted a discrepancy when comparing the information in Aldermore Bank’s valuation report and what is in the title deeds. My solicitor says that as he is on the Aldermore Bank conveyancing panel he is obliged to ensure that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s stance right?
A precondition to being on the Aldermore Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Aldermore Bank) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Whilst your website is a good idea there are many lawyers listed near Hackney on the Aldermore Bank conveyancing panel. Can you recommend a specific firm on the Aldermore Bank approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My uncle passed away 10 months ago and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Aldermore Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Aldermore Bank will insist on your using a conveyancer on the Aldermore Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore Bank mortgage is registered as a charge at the Land Registry.
I previously instructed online conveyancers based in London who are on the Aldermore Bank solicitor panel. They have just invoiced me a separate fee of £175 for dealing with the Aldermore Bank mortgage. Is this an additional conveyancing fee set by Aldermore Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Aldermore Bank but by your lawyers. Some firms on the Aldermore Bank will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Can I register a complaint to Aldermore Bank about the lawyers being on the Aldermore Bank conveyancing panel?
Complaining to Aldermore Bank about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.

The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.

If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.

My offer was accepted on a house on the 12th February 2014, valuation was booked 2 days later, received a clean bill of health. Property lawyer retained, so all that was missing was my mortgage offer. Having made daily calls to Aldermore Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Aldermore Bank conveyancing panel. Are Aldermore Bank entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore Bank to deal with your lawyers application to be on the Aldermore Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.