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. COMPLETIONmonitor is a unique risk management tool.

This system assists the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Keystone Property Finance’s changes. Even though utilising the software 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 panel application and, just as importantly, protect your firm’s panel standing.

The software creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Keystone Property Finance

Banks and building societies frequently 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 8 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 341.2 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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Q and A’s regarding the Keystone Property Finance Conveyancing Panel from members of the public

I am in the process of selling my maisonette and the estate agent has just called to say that the purchasers are appointing a new law firm. I am told that this is due to the fact that Keystone Property Finance will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only engage with certain solicitors?
UK lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

My partner and I are refinancing our penthouse with Keystone Property Finance. We have a son 19 who lives with us. The solicitor on the Keystone Property Finance conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Keystone Property Finance conveyancing panel as he never had to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Keystone Property Finance .This is solely used to protect the Keystone Property Finance if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Keystone Property Finance had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

Do I need to have a meeting at 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 Newcastle so that I can attend their offices when needed.
Most conveyancing panel lawyers for Keystone Property Finance undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am trying to get my ex-wife removed the mortgage deeds. Can Keystone Property Finance really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Keystone Property Finance then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Keystone Property Finance solicitors panel
We were going to get a DIP from Keystone Property Finance this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Keystone Property Finance recommend a solicitor on the Keystone Property Finance conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Keystone Property Finance conveyancing panel. The solicitor represents both you and the Keystone Property Finance through the process.
My existing mortgage is with Keystone Property Finance. My uncle has just retired and wants to pay off the mortgage left on the property. After Keystone Property Finance 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 Keystone Property Finance conveyancing panel? I do not intend to live at the property once the Keystone Property Finance mortgage is discharged.
You will need a solicitor but they need not be on the Keystone Property 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.
My brother and I are purchasing a penthouse in Hendon. Conveyancing solicitors in Hendon need to beretained. My colleaguesuggested that we check that the property lawyer in Hendon is on the Keystone Property Finance list of approved conveyancing firms. Is this really necessary?
Far from all Hendon conveyancing solicitors are on the Keystone Property Finance conveyancing panel. 5 people a month use our search tool to find a Hendon conveyancing practitioner on the on the Keystone Property Finance panel.