Keystone Property 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 PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Keystone Property Finance’s changes. Even though utilising the tool is not a prerequisite for Keystone Property Finance , demonstrating you can remain up to date with Keystone Property Finance’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

The software creates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

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Lenders often vary 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

My Conveyancer is not listed on the Keystone Property Finance Conveyancing Panel. Is it possible for me to retain my preferred solicitor even though they are excluded from the Keystone Property Finance panel?
The most common options here are as follows:
  1. Complete the purchase with your preferred lawyers but Keystone Property Finance will need to instruct a lawyer on the Keystone Property Finance conveyancing panel. This will result in additional cost and potential delay.
  2. Get a new solicitor to act in the purchase, obviously checking they are on the Keystone Property Finance conveyancing panel.
  3. Urge your lawyer to apply to join the Keystone Property Finance lender panel
I am due to complete my purchase next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Keystone Property Finance. What does the insurance need to cover?
All property lawyers on the Keystone Property Finance conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Keystone Property Finance’s Part 2 requirements of the CML Handbook (last updated on Keystone Property Finance). Being on the Keystone Property Finance conveyancing panel your lawyer is expect to follow these requirements.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Keystone Property Finance 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.
What happens if my lawyer’s firm is expelled from the Keystone Property Finance Conveyancing panel in advance of the completion date?
First, 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 at a cost.
How can we tell if a solicitor on the Keystone Property Finance panel is any good?
obtaining recommendations is a sensible start. 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 advocate that you speak with the lawyer handling your transaction
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Keystone Property Finance be concerned
Given that your lender is Keystone Property Finance your lawyer must to check the Keystone Property Finance conveyancing instructions contained in the Part of CML Handbook for Keystone Property Finance . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Keystone Property Finance where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Keystone Property Finance conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Keystone Property Finance. 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.