Magellan Homeloans Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk management tool.

This software assists the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Magellan Homeloans’s changes. Even though using this technology is not a condition for acceptance on the Magellan Homeloans panel, demonstrating you can stay up to date with Magellan Homeloans’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 generates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by Magellan Homeloans

Mortgage companies frequently vary 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, frequently:

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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Magellan Homeloans Conveyancing Panel : Questions and Answers from members of the public

My Solicitor is not on the Magellan Homeloans Solicitor Panel. Can I still use my family solicitor notwithstanding that they are excluded from the Magellan Homeloans list of approved lawyers?
The most common options here are as follows:
  1. Complete the purchase with your preferred solicitors but Magellan Homeloans will need to instruct a lawyer on the Magellan Homeloans 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 Magellan Homeloans conveyancing panel.
  3. Convince your lawyer to do everything within their powers to join the Magellan Homeloans conveyancing panel
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Magellan Homeloans will not agree to this. Why was Magellan Homeloans even consulted?
Your lawyer being on the Magellan Homeloans conveyancing panel is duty bound to inform Magellan Homeloans of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Magellan Homeloans then they would have to discontinue acting for you and Magellan Homeloans.
Your search tool is useful but there are many lawyers listed near London 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 applying for a Magellan Homeloans mortgage for purchase of a new build (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Magellan Homeloans?
There is nothing to stop you using your solicitor but Magellan Homeloans will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Can you point me to a directory of Magellan Homeloans panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Intending to buy a house with a mortgage with Magellan Homeloans. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Magellan Homeloans conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Magellan Homeloans conveyancing panel
After shopping around on the internet I have found a solicitor having made sure that they are on the Magellan Homeloans conveyancing panel. Does my lawyer arrange the survey of the property? Or Having digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Magellan Homeloans conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Magellan Homeloans will need an independent valuation of the property. Your lawyer will not arrange this. Usually Magellan Homeloans will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Magellan Homeloans you could contact your them to see if they have a list of approved surveyors.