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. COMPLETIONmonitor is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Atom Bank’s changes. While using COMPLETIONmonitor is not a condition for being on the Atom Bank panel, demonstrating you can stay up to date with Atom Bank’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your firm’s panel status.

The software generates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in a PII saving.

Book a Atom Bank Demo for this Panel Compliance Tool

Lenders 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 74 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 36.9 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
4.5b 25/09/2018 CML
10.2a 21/09/2018 CML
10.7 26/05/2018 CML
5.13.1 08/02/2018 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
4.5b 29/11/2017 CML
1.11a 09/05/2017 CML
1.11b 09/05/2017 CML
4.5b 10/04/2017 CML
5.4.5 13/12/2016 CML Local Search Indemnity Insurance
4.5b 14/11/2016 CML

Last update 07/11/2018

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

I am selling my flat and the EA has just telephoned to warn that the purchasers are appointing a new law firm. I am told that this is due to the fact that Atom Bank will only engage with solicitors on their approved list. On what basis would a big named lender only work with specific solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

My wife and I changing mortgage lender for our flat with Atom Bank. We have a son approaching twenty who lives with us. The solicitor on the Atom Bank conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this document specific to the Atom Bank conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Atom Bank .This is solely used to protect the Atom Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Atom Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

Do lenders provide you with an approved list of solicitors? How do you know who is on the Atom Bank conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Atom Bank conveyancing panel as opposed to being supplied with a list from Atom Bank directly.
I am attempting to get my ex-wife taken off the mortgage deeds. Can Atom Bank really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Atom Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Atom Bank solicitors panel
I have a mortgage with Atom Bank. Conveyancing has been completed 12 months ago. In the event that I decide 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?
Your original mortgage agreement with Atom Bank will provide that you need their approval in advance of letting out 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. You need not do this via a Atom Bank conveyancing panel solicitor.
The for formalities of my remortgage has taken place with a mortgage from Atom Bank. Conveyancing was a necessary evil but I would like to complain about Atom Bank. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the Atom Bank branches or the Customer Services Team at Atom Bank head office. We understand that complaints to Atom Bank are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service who will take matters further.
I was told two weeks ago that my mortgage has been agreed to by Atom Bank. Is it usual for Atom Bank to only issue the offer once my solicitor is approved on their conveyancing panel?
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 Atom Bank to deal with your lawyers application to be on the Atom Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.