Keystone Property Finance Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based 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 mitigation tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Keystone Property Finance’s changes. While utilising this technology is not a condition for being on the Keystone Property Finance panel, demonstrating you can remain up to date with Keystone Property Finance’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your firm’s panel standing.

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

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Mortgage companies frequently 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, over time:

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

I need to swap lawyers as my lawyer is not on the Keystone Property Finance panel of conveyancing solicitors. Is it practical to instruct different lawyers?
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.
I am buying a new build flat and my solicitor is informing me that she is duty bound to disclose incentives from the developer as her firm is on the Keystone Property Finance conveyancing panel. I am under pressure to exchange and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. 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 Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I need to visit the offices of the Keystone Property Finance conveyancing panel solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Manchester so that I can attend their offices if required.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Manchester .
I was scheduled to move into my flat last Friday. My lawyer’s firm is on the Keystone Property Finance conveyancing panel but has moved offices in the past couple of months and had not advised Keystone Property Finance of their new address. Keystone Property Finance is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Keystone Property Finance branch or your mortgage broker to see if they can assist.
Are all Conveyancing Quality Solicitors on the Keystone Property Finance conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I had instructed online solicitors based in Cardiff who are on the Keystone Property Finance solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the Keystone Property Finance mortgage. Is this a supplemental conveyancing fee specified by Keystone Property Finance?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Keystone Property Finance but by your lawyers. Some firms on the Keystone Property Finance will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I'm at the point of looking at flats and now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Keystone Property Finance
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Keystone Property Finance , ask your prospective lawyers check they are on the Keystone Property Finance conveyancing panel otherwise they can't do the mortgage legal work.