Masthaven Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This system facilitates the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Masthaven Bank’s changes. Even though utilising the software is not a condition for acceptance on the Masthaven Bank panel, demonstrating you can remain up to date with Masthaven Bank’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, protect your firm’s panel status.

The software generates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Masthaven Bank

Lenders often vary their requirements. The UK Finance Lenders’ Handbook requirements from Masthaven Bank 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, Masthaven Bank has made 4 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 682.5 days. In total, 1% of the sections of P2 of the UK Finance Lenders’ Handbook for Masthaven Bank have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
5.14.1 05/04/2019 CML
Leasehold Conveyancing
Masthaven Bank panel lawyers leasehold conveyancing requirements : minimum unexpired lease term
6.7.1 03/04/2019 CML
New Build Conveyancing
Masthaven Bank approved conveyancer requirements for New Build Conveyancing : Home Warranty Schemes

Last update 17/04/2019

Masthaven Bank Conveyancing Panel : Questions and Answers from members of the public

How easy is it to change a solicitor as I need to find one who is on the Masthaven Bank conveyancing panel. 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 due to complete my purchase next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Masthaven Bank. What risks do Masthaven Bank expect the insurance to cover?
All property lawyers on the Masthaven Bank 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 Masthaven Bank’s Part 2 requirements of the CML Handbook (last updated on Masthaven Bank). Being on the Masthaven Bank conveyancing panel your lawyer is expect to follow these requirements.
How do I find a local solicitor on the Masthaven Bank conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the solicitor.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Masthaven Bank solicitor panel.
The firm that just started acting on my house acquisition in Manchester has suddenly closed. They were on acting for me because I had to have a solicitor on the Masthaven Bank conveyancing panel and my family lawyer was not. I paid them £200 on account. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Masthaven Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist
Are all Conveyancing Quality Solicitors on the Masthaven Bank conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives 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 approved list of firms.
Are all solicitors on the Masthaven Bank conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Masthaven Bank conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My offer was accepted on a property on the 17th February 2014, valuation was booked 4 days later, all came back fine. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Masthaven Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Masthaven Bank conveyancing panel. Are Masthaven Bank entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Masthaven Bank to deal with your lawyers application to be on the Masthaven Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.