Magellan Homeloans Conveyancing Lender Panel Compliance Tool

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

This software assists the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Magellan Homeloans’s changes. While using this technology is not a prerequisite for Magellan Homeloans , demonstrating you can remain up to date with Magellan Homeloans’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces compliance 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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Lenders frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Magellan Homeloans 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, Magellan Homeloans has made 219 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 12.5 days. In total, 59% of the sections of P2 of the UK Finance Lenders’ Handbook for Magellan Homeloans have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
5.14.9 20/07/2016 CML
5.10.1 20/07/2016 CML
6.7.1 20/07/2016 CML
6.7.4 20/07/2016 CML
5.2.1 20/07/2016 CML
6.14.1 30/11/2015 CML
6.14.4 01/12/2014 CML
16.5.3a 05/08/2014 CML
5.7.1c 05/08/2014 CML Flying Freehold Indemnity Insurance
16.5.3d 06/08/2013 CML

Last update 11/01/2019

Frequently asked questions relating to the Magellan Homeloans Solicitor Panel from members of the public

My fiance and I are novices when it comes to buying a property. Within the 48 hours our conveyancer has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. Magellan Homeloans have this evening contacted us to advise us that they have now hit a problem as our conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.

In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Magellan Homeloans and see if they can apply for membership of the Magellan Homeloans conveyancing panel, but if that is not viable Magellan Homeloans will instruct their own lawyers to represent them. You don't have to instruct a firm on the Magellan Homeloans conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.

Our property lawyer has informed me that he requires proof of ID documents saying that this is part of his legal duty as a solicitor on the Magellan Homeloans Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Magellan Homeloans your lawyer also has to check ID documents to satisfy Magellan Homeloans
Your search tool is useful but there are many lawyers listed near Middlesbrough on the Magellan Homeloans conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Magellan Homeloans ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am considering refinancing my home does my lawyer need to be on the Magellan Homeloans Solicitor panel?
In theory, you could use a solicitor that is not on Magellan Homeloans conveyancing panel, but Magellan Homeloans would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Do conveyancing solicitors on the Magellan Homeloans conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I am selling my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Magellan Homeloans are being a right pain. The solicitor who is on the Magellan Homeloans conveyancing panel is recommending indemnity insurance as a solution but Magellan Homeloans are insisting on a building regulation certificate. Why do Magellan Homeloans have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Magellan Homeloans have referred the matter to their valuer. The reason why Magellan Homeloans 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.
My ex -wife’s name is on the Magellan Homeloans mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Magellan Homeloans mortgage in order to sell?
As regards the Magellan Homeloans mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Magellan Homeloans in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.