GE Money Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This software is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with alerts on GE Money’s changes. Notwithstanding that using COMPLETIONmonitor is not a prerequisite for GE Money , demonstrating you can remain up to date with GE Money’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your panel status.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by GE Money

Lenders often change their requirements. The UK Finance Lenders’ Handbook requirements from GE Money 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, GE Money has made 545 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 5.0 days. In total, 62% of the sections of P2 of the UK Finance Lenders’ Handbook for GE Money have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
4.3 09/03/2016 CML
5.15.2a 09/03/2016 CML
5.8.1 09/03/2016 CML
6.4.4 09/03/2016 CML
8.1 09/03/2016 CML
9.2 09/03/2016 CML Adverse Possession Indemnity Insurance Possessory Title Indemnity Insurance Missing Deeds Indemnity Insurance Defective Title Indemnity Insurance
6.14.1 30/11/2015 CML
3.1.4 01/12/2014 CML
5.5.1b 01/12/2014 CML
5.5.3d 01/12/2014 CML Lack of Planning Permission Indemnity Insurance

Last update 07/01/2020

Q and A’s regarding the GE Money Solicitor Panel from members of the public

My fiance and I are hoping to buy a 3 bedroom apartment in Hackney with a mortgage from GE Money. We would like to retain our lawyer but GE Money says he's not on their "panel". We have to appoint one of the GE Money panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; 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 GE Money 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for GE Money
I am purchasing a newly built apartment and my conveyancer is advising me that she has to reveal incentives from the seller as her firm is on the GE Money conveyancing panel. The Estate Agents are hassling me to sign contracts and I have no desire to prolong deal. Can I insist on an exchange regardless of what my lawyer says about being on the GE Money panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the GE Money approved panel is to comply with the CML Handbook requirements (last updated for this lender on GE Money). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the GE Money conveyancing panel. My lawyer has said that they are on the GE Money 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 GE Money 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 GE Money solicitor panel.
I am remortgaging my property does my lawyer need to be on the GE Money Solicitor panel?
In theory, you could use a solicitor that is not on GE Money conveyancing panel, but GE Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Are all conveyancing solicitors on the GE Money conveyancing panel overseen by the SRA?
As solicitors, in order to be on the GE Money conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My offer was accepted on a property on the 6th March 2014, valuation was booked 2 days after, all came back fine. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to GE Money and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the GE Money conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for GE Money to deal with your lawyers application to be on the GE Money conveyancing panel. There's no guarantee that your solicitors will be accepted.
My husband and I are acquiring a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My brokeradvised that we check that the solicitor in Hendon is on the GE Money solicitors panel. Surely I don't need to do this, do I?
A limited percentage of Hendon conveyancing practices are on the GE Money conveyancing panel. 8 people a month use our search tool to locate a Hendon conveyancing solicitor on the on the GE Money list of approved conveyancing firms.