Foundation Home loans Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This system optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Foundation Home loans’s changes. Notwithstanding that utilising the tool is not a condition for acceptance 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, more importantly, protect your firm’s panel status.

The software creates 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 Foundation Home loans

Lenders 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, frequently:

A Timeline of Policy Changes


Since 2008, Foundation Home loans has made 3 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 910.0 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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Foundation Home loans Solicitor Panel Sample Enquires to our Call Center from members of the public

I am in the process of selling my apartment and the EA has just telephoned to say that the buyers are switching property lawyer. I am told that this is due to the fact that Foundation Home loans will only engage with solicitors on their approved list. Why would a big named mortgage company only work with specific solicitors?
Banks have always had panels 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 more than 15 years.

Banks 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 being contacted daily by practices 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.

I am due to complete my purchase next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Foundation Home loans. What does the insurance need to cover?
All property lawyers on the Foundation Home loans 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 Foundation Home loans’s Part 2 requirements of the CML Handbook (last updated on Foundation Home loans). Being on the Foundation Home loans conveyancing panel your lawyer is expect to follow these requirements.
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.
My aunt passed away 10 months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £4500. 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 possible?
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.
Is it the case that all solicitors on the Foundation Home loans conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Foundation Home loans conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We expect to receive a DIP from Foundation Home loans this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Foundation Home loans recommend a solicitor on the Foundation Home loans conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Foundation Home loans conveyancing panel. The solicitor represents both you and the Foundation Home loans through the process.
The for formalities of my purchase has taken place with a mortgage from Foundation Home loans. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Foundation Home loans. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the Foundation Home loans branches or the Customer Services Team at Foundation Home loans head office. We understand that complaints to Foundation Home loans are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service who will take matters further.