Atom 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. It is a unique risk mitigation tool.

This system assists the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Atom Bank’s changes. Even though using this technology is not a prerequisite for Atom Bank , demonstrating you can stay up to date with Atom Bank’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Atom Bank

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Atom 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, Atom Bank has made 77 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 35.5 days. In total, 6% of the sections of P2 of the UK Finance Lenders’ Handbook for Atom 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
6.7.1 13/09/2019 CML
17.1.1 05/07/2019 CML
4.5b 25/09/2018 CML
10.2a 21/09/2018 CML
10.2a 26/05/2018 CML
10.7 26/05/2018 CML
5.13.1 08/02/2018 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
1.11a 09/05/2017 CML
1.7 09/05/2017 CML
5.4.5 13/12/2016 CML Local Search Indemnity Insurance

Last update 17/11/2019

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

I appointed a firm of solicitors to conveyancing on my purchase 5 weeks ago having applied for a mortgage with Atom Bank. The solicitors reassured me that they are on Atom Bank conveyancing panel and advised me their panel number. Atom Bank then called me to say that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the conveyancing panel for Atom Bank?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Atom Bank conveyancing panel You may wish to enlist the help of your broker to check with the Atom Bank as to how long they think it will take to get the firm to get back on the panel.
We are approaching an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Atom Bank. I am advised that, being on the Atom Bank conveyancing panel and acting on their behalf he must inform Atom Bank if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Atom Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Atom Bank if you agree, failing which, your lawyer must cease to continue acting.
Whilst your website is a good idea there are many lawyers listed near Middlesbrough on the Atom Bank conveyancing panel. Can you recommend a specific firm on the Atom Bank approved panel?
We do not recommend specific firms 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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am refinancing my property does my lawyer need to be on the Atom Bank Solicitor panel?
There is nothing to stop you using your solicitor but Atom Bank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is there a list of Atom Bank panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
We are getting a further advance on our mortgage from Atom Bank as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Atom Bank conveyancing panel to deal with the paperwork?
Atom Bank do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Atom Bank list
The mortgage over my property is with Atom Bank. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Atom Bank?
Atom Bank must be informed of your intention before renting your property as this is likely to be a breach of Atom Bank’s mortgage conditions. It may be that Atom Bank will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Atom Bank directly. It should not be necessary to do this via a Atom Bank conveyancing panel firm.