First Trust Bank Conveyancing Lender Panel Compliance Tool

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Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by UK Finance and professional indemnity insurers. It is a unique risk management tool.

This software assists the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on First Trust Bank’s changes. Even though using COMPLETIONmonitor is not a prerequisite for First Trust Bank , demonstrating you can remain up to date with First Trust Bank’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, protect your panel status.

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

Find a Law Firm approved by First Trust Bank

Lenders often change their requirements. The BSA instructions from First Trust 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 2010, First Trust Bank has made 124 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 22.0 days. In total, 0% of the sections of the BSA Requirements for First Trust Bank have been changed since 26/1/2010.

To find out more about lender panel compliance,

First Trust Bank Conveyancing Panel : Questions and Answers from members of the public

Is there a reason why all solicitors aren't included on the First Trust Bank Solicitor panel?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
We are nearing an exchange and my parents having sent 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 First Trust Bank. Apparently, being on the First Trust Bank conveyancing panel and acting on their behalf he must inform First Trust Bank if the balance of the mortgage advance is coming from anyone other than 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 First Trust 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 First Trust Bank if you agree, failing which, your lawyer must cease to continue acting.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the First Trust Bank conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Manchester so that I can pop in to their offices when needed.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Manchester .
My lawyers in London have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with First Trust Bank. Is it case that being on the First Trust Bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the First Trust Bank Conveyancing Panel Terms. It might be worth you contacting First Trust Bank directly.
Can you point me to a directory of First Trust Bank panel solicitors on the Council of Mortgage Lender’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 have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender First Trust Bank be concerned
Given that you are obtaining a mortgage with First Trust Bank your lawyer must to check the First Trust Bank conveyancing instructions contained in the Part of CML Handbook for First Trust Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to First Trust Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
It is not clear whether my mortgage offer requires a lease extension . I have called First Trust Bank on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the First Trust Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for First Trust Bank. Unless your lawyer obtains specific confirmation in writing that First Trust Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask First Trust Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.

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