GE Money 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 professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation 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 automatic updates on GE Money’s changes. Even though using the tool is not a condition for acceptance on the GE Money panel, demonstrating you can remain up to date with GE Money’s Handbook requirements is a helpful 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. It is also simply to use, cost-effective and, for many 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, frequently:

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
1.14 09/03/2016 CML
3.2.4 09/03/2016 CML
4.5b 09/03/2016 CML
5.17.5b 09/03/2016 CML
5.19.1 09/03/2016 CML
5.4.4 09/03/2016 CML
5.5.3b 09/03/2016 CML Lack of Planning Permission Indemnity Insurance
5.7.1b 09/03/2016 CML Flying Freehold Indemnity Insurance
5.9.1 09/03/2016 CML
9.1 09/03/2016 CML Adverse Possession Indemnity Insurance Possessory Title Indemnity Insurance Missing Deeds Indemnity Insurance Defective Title Indemnity Insurance

Last update 27/05/2019

Common questions asked concerning the GE Money Solicitor Panel from members of the public

My Conveyancer is not on the GE Money Approved Panel. Can I still retain my family solicitor notwithstanding that they are not on the GE Money approved list?
You will need to have a conveyancer complete the legal work required when you take out a GE Money mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the GE Money conveyancing panel additional costs will be incurred as separate legal representation will be required by GE Money. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My solicitor has uncovered a difference when comparing the surveyor’s assumptions in GE Money’s home valuation report and what is in the legal papers for the property. My solicitor informs me that as he is on the GE Money conveyancing panel he is duty bound to check that the bank is OK with this discrepancy and is content go ahead. Is my lawyer’s approach legitimate?
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) 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 you.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the GE Money solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am purchasing a new build flat and getting a mortgage with GE Money. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the GE Money 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 GE Money conveyancing panel in your location.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender GE Money be concerned
As your lender is GE Money your lawyer must to check the GE Money conveyancing instructions contained in the Part of CML Handbook for GE Money . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to GE Money where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
The for formalities of my purchase has taken place with a loan from GE Money. Conveyancing was satisfactory but I would like to complain about GE Money. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the GE Money branches or the Customer Care Team at GE Money head office. Ordinarily complaints to GE Money are sorted out very quickly. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
After shopping around on the internet I have found a solicitor having checked that they are on the GE Money conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the GE Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
GE Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually GE Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with GE Money you could contact your them to see if they have a list of approved surveyors.