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. COMPLETIONmonitor is a unique risk management tool.

This software is the only way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with notifications given 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 panel application and, just as importantly, safeguard your firm’s panel standing.

The system generates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. It is also simply to use, 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.

To find out more about lender panel compliance,

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Common questions asked concerning the Foundation Home loans Solicitor Panel from members of the public

My husband and I are hoping to buy a 2 bedroom apartment in Hackney with a mortgage from Foundation Home loans. We would like to retain our solicitor but Foundation Home loans says she’s not on their "panel". It seems we have little choice but to instruct one of the Foundation Home loans panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Foundation Home loans conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Foundation Home loans
Please help. My conveyancer is informing me me that she is duty-bound to apply for a Local Authority search as the firm are on the Foundation Home loans solicitor panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Foundation Home loans your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Foundation Home loans’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Foundation Home loans. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
What tools are available to search for a local solicitor on the Foundation Home loans conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the conveyancer.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Foundation Home loans solicitor panel.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Foundation Home loans Conveyancing panel in advance of completion?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have today made my last payment due on mortgage with Foundation Home loans. I assume I don't need a solicitor on the Foundation Home loans panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Foundation Home loans mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Foundation Home loans mortgage from the register. Foundation Home loans,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Foundation Home loans has sent the Land Registry the discharge electronically, and the Foundation Home loans has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Foundation Home loans mortgage has been paid off.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Foundation Home loans are being pedantic. The solicitor who is on the Foundation Home loans conveyancing panel is happy to accept ‘lack of building regulation’ insurance 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.
Sometime soon me and my wife are taking a long lease of a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are about to beretained. My agentsuggested that we enquire that the solicitor in Hendon is on the Foundation Home loans list of approved conveyancing firms. Surely I don't need to do this, do I?
Far from all Hendon conveyancing practices are on the Foundation Home loans conveyancing panel. Use the above search tool to search for a Hendon conveyancing firm on the on the Foundation Home loans list of approved conveyancing firms.