Foundation Home loans Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and professional indemnity insures. It is a unique risk management tool.

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

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Foundation Home loans

Banks and building societies often change their requirements. The UK Finance Lenders’ Handbook requirements from Foundation Home loans 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, Foundation Home loans has made 57 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 47.9 days. In total, 25% of the sections of P2 of the UK Finance Lenders’ Handbook for Foundation Home loans have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Foundation Home loans Conveyancing Panel Recently Asked Questions from members of the public

I need to swap lawyers as my lawyer is not on the Foundation Home loans panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are only a couple days away from an exchange and my mum and dad 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 make a notification to my lender Foundation Home loans. Apparently, being on the Foundation Home loans conveyancing panel and acting on their behalf he must inform Foundation Home loans if the balance of the mortgage advance is not just from me. I advised 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 Foundation Home loans 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 Foundation Home loans if you agree, failing which, your lawyer must cease to continue acting.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Foundation Home loans conveyancing panel. My lawyer has said that they are on the Foundation Home loans approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Foundation Home loans conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Foundation Home loans solicitor panel.
I am buying a terraced house and getting a mortgage with Foundation Home loans. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Foundation Home loans conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Foundation Home loans conveyancing panel in your location.
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 Foundation Home loans conveyancing panel requirements are different to Foundation Home loans’s conveyancing panel criteria.
I am about to exchange contracts on a purchase with a mortgage from Foundation Home loans. The report from my solicitor mentions that Foundation Home loans could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Foundation Home loans can revoke their mortgage offer although this is unusual. In the unlikely event that Foundation Home loans withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a few examples:
  • Where information comes to Foundation Home loans ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
  • If the borrower informs Foundation Home loans of a change in security address
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • Where the lender has to take account a recent change in taxation
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
Foundation Home loans have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Foundation Home loans or your broker and complete any relevant paperwork. Foundation Home loans will tell you what documents they want. Foundation Home loans will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Foundation Home loans will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.