Foundation Home loans Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on Foundation Home loans’s changes. While utilising this technology is not a condition for being on the Foundation Home loans panel, demonstrating you can remain up to date with Foundation Home loans’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Foundation Home loans

Mortgage companies 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 5 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 546.0 days. In total, 1% of the sections of P2 of the UK Finance Lenders’ Handbook for Foundation Home loans have been changed since 15/12/2008.

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Examples of recent questions relating to the Foundation Home loans Solicitor Panel from members of the public

Can you please explain the reason why all property lawyers aren't included on the Foundation Home loans Conveyancing panel?
Mortgage companies 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
My conveyancer has spotted an inconsistency when comparing the assumptions in Foundation Home loans’s home valuation report and what is in the title deeds. My solicitor informs me that as he is on the Foundation Home loans conveyancing panel he needs to check that the lender is happy with this discrepancy and is content go ahead. Is my conveyancer’s stance appropriate?
A precondition to being on the Foundation Home loans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Foundation Home loans) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am planning to acquire a flat and require a conveyancing solicitor in Manchester who is on the Foundation Home loans solicitor. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Foundation Home loans . We don’t recommend any particular firm.
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Foundation Home loans , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Foundation Home loans will insist on your using a conveyancer on the Foundation Home loans conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Foundation Home loans conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Foundation Home loans mortgage is registered as a charge at the Land Registry.
I previously instructed online solicitors located in Birmingham who are on the Foundation Home loans solicitor panel. They have just invoiced me a separate fee of £195 for the legal aspects of the Foundation Home loans mortgage. Is this a supplemental conveyancing fee set by Foundation Home loans?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Foundation Home loans but by your lawyers. Some firms on the Foundation Home loans will charge an ‘acting for lender’ fee and others do not.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Foundation Home loans conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Foundation Home loans. All solicitors 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 properly dealt with 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.

I am selling my house. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Foundation Home loans are being problematic. The solicitor who is on the Foundation Home loans conveyancing panel is recommending indemnity insurance as a solution but Foundation Home loans are requiring a building regulation certificate. Why do Foundation Home loans have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Foundation Home loans have referred the matter to their valuer. The reason why Foundation Home loans may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.