ITL Mortgages Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. It is a unique risk management tool.

This system is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on ITL Mortgages’s changes. Notwithstanding that using COMPLETIONmonitor is not a prerequisite for ITL Mortgages , demonstrating you can remain up to date with ITL Mortgages’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your panel standing.

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

Find a Law Firm approved by ITL Mortgages

Banks and building societies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from ITL Mortgages 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, ITL Mortgages has made 211 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 12.9 days. In total, 51% of the sections of P2 of the UK Finance Lenders’ Handbook for ITL Mortgages have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Q and A’s regarding the ITL Mortgages Conveyancing Panel from members of the public

For what reasons could a law firm be removed from the ITL Mortgages solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
  1. Low volume 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. We are not aware of the specific or common criteria for removal by ITL Mortgages
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 ITL Mortgages will not agree to this. Why was ITL Mortgages even consulted?
Your lawyer being on the ITL Mortgages conveyancing panel is duty bound to inform ITL Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to ITL Mortgages then they would have to discontinue acting for you and ITL Mortgages.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the ITL Mortgages conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
Can you clarify what the consequences are if my solicitor is removed from the ITL Mortgages Conveyancing panel before the completion date?
The first thing to point out is that, this is very unlikely to happen. 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.
We have agreed a price on a flat I spoke to a lawyer recommended by my dad and he recommended using a property lawyers approved by ITL Mortgages. The estate agent recommended two local firms so I asked ITL Mortgages if the 2 suggested solicitors are approved, which they are not. ITL Mortgages pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of ITL Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of ITL Mortgages to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the ITL Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto ITL Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet ITL Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I have a mortgage with ITL Mortgages. My grandfather has just retired and wants to pay off my mortgage. After ITL Mortgages is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the ITL Mortgages conveyancing panel? I do not intend to live at the property once the ITL Mortgages mortgage is discharged.
You will need a solicitor but they need not be on the ITL Mortgages 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.
ITL Mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up ITL Mortgages or your broker and complete any relevant paperwork. ITL Mortgages will tell you what documents they want. ITL Mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. ITL Mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.