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 such as AmTrust. It is a unique risk mitigation tool.

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

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by GE Money

Banks and building societies often vary 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
1.11b 09/03/2016 CML
12.3.1 09/03/2016 CML
1.7 09/03/2016 CML
5.14.15a 09/03/2016 CML Absentee Landlord Indemnity Insurance
5.17.5b 09/03/2016 CML
5.7.1a 09/03/2016 CML Flying Freehold Indemnity Insurance
6.7.4 09/03/2016 CML
5.20.3 09/03/2016 CML
3.1.4 01/12/2014 CML
6.14.2 01/12/2014 CML

Last update 12/01/2019

Examples of recent questions relating to the GE Money Solicitor Panel from members of the public

I am progressing with the sale of my maisonette and the estate agent has just e-mailed to advise that the purchasers are appointing a new solicitor. I am told that this is due to the fact that GE Money will only deal with solicitors on their conveyancing panel. Why would a leading mortgage company only engage with specific solicitors?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Lenders blame a rise in fraud by way of justification 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.

Our solicitor has discovered a legal deficiency with the lease for the property we are buying. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the GE Money conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or GE Money?
Just because you have a mortgage offer from GE Money does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and GE Money are the client. These conveyancing instructions have to be complied with by the GE Money conveyancing panel who has to balance acting for you and GE Money
Your search tool is useful but there are many lawyers listed near Hackney on the GE Money conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the GE Money approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I was expecting to complete on my flat yesterday. My solicitor is on the GE Money conveyancing panel but has changed address 8 weeks ago and had not informed GE Money of their new address. GE Money is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local GE Money branch or your mortgage broker to see if they can help.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the GE Money conveyancing panel requirements are different to GE Money’s conveyancing panel criteria.
Completion of my remortgage has taken place with a mortgage from GE Money. Conveyancing was a necessary evil but I would like to complain about GE Money. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the GE Money branches or the Customer Care Department at GE Money head office. We understand that complaints to GE Money are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service with full details of your complaint.
Can I register a complaint to GE Money about the lawyers being on the GE Money conveyancing panel?
Complaining to GE Money about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. Usually one can find this 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 addressed 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.