Habito Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This system optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Habito’s changes. Notwithstanding that using the tool is not a prerequisite for Habito , demonstrating you can stay up to date with Habito’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your panel status.

The system creates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Habito

Banks and building societies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Habito 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


To find out more about lender panel compliance,

Book a Personalised Demo

FAQs for the Habito Solicitor Panel from members of the public

Is the fact that my solicitor is not identified on the Habito Solicitor panel that there is a problem with the quality of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Habito.
I do hope you can help me. My solicitor is assuring me that she is duty-bound to conduct a Local Authority search as the firm are on the Habito conveyancing panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with Habito 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 Habito’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Habito. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Habito conveyancing panel. My lawyer has said that they are on the Habito 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 Habito 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 Habito solicitor panel.
Please explain the implications if my solicitor is expelled from the Habito Solicitor 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.
Two weeks ago we had a mortgage agreed in principle with Habito. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Habito?
Some lenders take longer than others. Have Habito completed the valuation? Have you advised Habito as your lawyers details and checked that your lawyer is on the Habito conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
For 5 years I had a mortgage with Habito. My father retired last week and wants to pay off my mortgage. After Habito is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Habito conveyancing panel? I do not intend to live at the property once the Habito mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Habito panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
The mortgage over my property is with Habito. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Habito?
Habito must be informed of your intention before letting out your property as this is likely to be a breach of Habito’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Habito directly. It should not be necessary to do this via a Habito conveyancing panel firm.