Intelligent Finance 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 system assists the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Intelligent Finance’s changes. Notwithstanding that using the software is not a prerequisite for Intelligent Finance , demonstrating you can stay up to date with Intelligent Finance’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your firm’s panel status.

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

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Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Intelligent Finance 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, Intelligent Finance has made 329 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 8.3 days. In total, 41% of the sections of P2 of the UK Finance Lenders’ Handbook for Intelligent Finance have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
16.5.3c 28/06/2019 CML
5.15.2a 28/06/2019 CML
6.3.1 28/06/2019 CML
6.5.1 28/06/2019 CML
6.7.1 13/08/2018 CML
16.5.2 18/02/2016 CML
17.1.1 18/02/2016 CML
1.7 18/02/2016 CML
5.5.3a 18/02/2016 CML Lack of Planning Permission Indemnity Insurance
6.2.1 18/02/2016 CML

Last update 27/01/2020

Frequently asked questions relating to the Intelligent Finance Conveyancing Panel from members of the public

How easy is it to change a solicitor as I need to find one who is on the Intelligent Finance conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Intelligent Finance will not agree to this. Why was Intelligent Finance even consulted?
Your lawyer being on the Intelligent Finance conveyancing panel is duty bound to inform Intelligent Finance of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Intelligent Finance then they would have to discontinue acting for you and Intelligent Finance.
I note that you have a search directory listing solicitors on the Intelligent Finance conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Intelligent Finance conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am considering mortgaging my apartment does my lawyer have to be on the Intelligent Finance Solicitor panel?
There is nothing to stop you using your solicitor but Intelligent Finance will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Are all solicitors on the Intelligent Finance conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Intelligent Finance 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).
How can we tell if a solicitor on the Intelligent Finance panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your transaction
My existing mortgage is with Intelligent Finance. My grandfather has just retired and wants to pay off the mortgage left on the property. After Intelligent Finance 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 Intelligent Finance conveyancing panel? I do not intend to live at the property once the Intelligent Finance mortgage is discharged.
You will need a solicitor but they need not be on the Intelligent Finance conveyancing 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. There's no capital gains tax for you as it is your main residence.