Banks and Clients Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This software optimises the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with alerts on Banks and Clients’s changes. Even though using COMPLETIONmonitor is not a prerequisite for Banks and Clients , demonstrating you can stay up to date with Banks and Clients’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces compliance and CQS reports, and will improve 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 Banks and Clients

Banks and building societies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Banks and Clients 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, Banks and Clients has made 1 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 2730.0 days. In total, 0% of the sections of P2 of the UK Finance Lenders’ Handbook for Banks and Clients have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Examples of recent questions relating to the Banks and Clients Conveyancing Panel from members of the public

I appointed a solicitor to conveyancing on my remortgage 4 weeks ago having applied for a mortgage with Banks and Clients. The solicitors reassured me that they are on Banks and Clients conveyancing panel and advised me their panel reference. Banks and Clients then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor currently on the approved panel for Banks and Clients?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Banks and Clients as to the time frame to get your lawyer reinstated on the panel once again.
I am due to complete my purchase next Thursday. 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 Banks and Clients. What does the insurance need to cover?
Any lawyer on the Banks and Clients 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 Banks and Clients’s Part 2 requirements of the CML Handbook (last updated on Banks and Clients). Being on the Banks and Clients conveyancing panel your lawyer is expect to follow these instructions.
How up to date is your database of lawyers on the Banks and Clients conveyancing panel? Do Banks and Clients send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Banks and Clients conveyancing panel as opposed to being supplied with a list from Banks and Clients directly.
I am considering applying for a Banks and Clients mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Banks and Clients?
In theory, you could use a solicitor that is not on Banks and Clients conveyancing panel, but Banks and Clients would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Banks and Clients conveyancing panel requirements are different to Banks and Clients’s conveyancing panel requirements.
The mortgage over my property is with Banks and Clients. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Banks and Clients?
Your original mortgage agreement with Banks and Clients will provide that you need their approval before letting out your property as this is likely to be a breach of Banks and Clients’s mortgage conditions. It may be that Banks and Clients 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 Banks and Clients directly. It should not be necessary to do this via a Banks and Clients conveyancing panel firm.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Banks and Clients conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Banks and Clients. 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.