Keystone Property Finance Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This system optimises the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Keystone Property Finance’s changes. While using the software is not a condition for acceptance on the Keystone Property Finance panel, demonstrating you can stay up to date with Keystone Property Finance’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will enhance 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 Keystone Property Finance

Banks and building societies often change their requirements. The UK Finance Lenders’ Handbook requirements from Keystone Property Finance 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, Keystone Property Finance has made 5 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 546.0 days. In total, 2% of the sections of P2 of the UK Finance Lenders’ Handbook for Keystone Property Finance have been changed since 15/12/2008.

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Keystone Property Finance Solicitor Panel Sample Enquires to our Call Center from members of the public

I instructed a firm of solicitors to carry out on my house purchase three weeks ago having applied for a mortgage with Keystone Property Finance. The firm confirmed to me that they are on Keystone Property Finance conveyancing panel and gave me their panel reference. Keystone Property Finance then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the approved panel for Keystone Property Finance?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Keystone Property Finance conveyancing panel You may wish to enlist the help of your broker to check with the Keystone Property Finance as to how long they think it will take to get the firm to get back on the panel.
Our lawyer has identified a problem with the lease for the property we are buying. The other side have offered title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the Keystone Property Finance conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Keystone Property Finance?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Keystone Property Finance are the client. A precondition to being on the Keystone Property Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Keystone Property Finance). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Keystone Property Finance can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
I am looking for online conveyancing estimates. Can I be confident that all the firms that are identified on your website are on the Keystone Property Finance conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Keystone Property Finance panel and agreed to advise us to take down their listing in the event of removal off of the Keystone Property Finance panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Keystone Property Finance conveyancing panel is incorrect.
What happens if my lawyer’s firm is removed from the Keystone Property Finance Solicitor panel prior to completion?
First, 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 at a cost.
I have agreed a price on a flat I spoke to a solicitor previously used by my dad and he recommended retaining a solicitor approved by Keystone Property Finance. The estate agent recommended two local firms so I asked Keystone Property Finance if the 2 suggested solicitors are approved, which they are not. Keystone Property Finance 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 Keystone Property Finance 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Keystone Property Finance 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 Keystone Property Finance 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 Keystone Property Finance conveyancing panel as it may only take about 2-3 weeks. As long as they meet Keystone Property Finance’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 am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Keystone Property Finance are being difficult. The solicitor who is on the Keystone Property Finance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Keystone Property Finance are insisting on a building regulation certificate. Why do Keystone Property Finance have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Keystone Property Finance have referred the matter to their valuer. The reason why Keystone Property Finance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Keystone Property Finance 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 Keystone Property Finance or your broker and complete any relevant paperwork. Keystone Property Finance will tell you what documents they want. Keystone Property Finance 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. Keystone Property Finance 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.