Masthaven Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This software optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Masthaven Bank’s changes. Even though utilising COMPLETIONmonitor is not a condition for being on the Masthaven Bank panel, demonstrating you can stay up to date with Masthaven Bank’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Masthaven Bank

Mortgage companies frequently 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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FAQs : The Masthaven Bank Conveyancing Panel from members of the public

I have been advised by my broker that I have to pay Masthaven Bank fees should I instruct my family lawyer. How efficient are the Masthaven Bank conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and not exorbitantly priced. Would you recommend a specific law firm on the Masthaven Bank panel?
Masthaven Bank’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Masthaven Bank will allow to act for them.
Much to my surprise my solicitor has requested from me personal identification documents stating that this is part of his retainer as a solicitor on the Masthaven Bank Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Masthaven Bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Masthaven Bank CML Handbook requirements last updated on Masthaven Bank
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Masthaven Bank conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Masthaven Bank conveyancing panel as opposed to being supplied with a list from Masthaven Bank directly.
I am considering applying for a Masthaven Bank mortgage for purchase of a new build (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Masthaven Bank?
In theory, you could use a solicitor that is not on Masthaven Bank conveyancing panel, but Masthaven Bank 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.
Can I be sure that the solicitor on the Masthaven Bank panel is any good?
seeking recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer carrying out your transaction
My existing mortgage is with Masthaven Bank. My uncle has just retired and wants to pay off my mortgage. After Masthaven Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Masthaven Bank conveyancing panel? I do not intend to live at the property once the Masthaven Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Masthaven Bank 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. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Masthaven Bank?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Masthaven Bank conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Masthaven Bank and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.