Molo Finance Buy to Let Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Molo Finance Buy to Let’s changes. While using the software is not a prerequisite for Molo Finance Buy to Let , demonstrating you can stay up to date with Molo Finance Buy to Let’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel standing.

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

Find a Law Firm approved by Molo Finance Buy to Let

Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Molo Finance Buy to Let 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, Molo Finance Buy to Let has made 110 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 24.8 days. In total, 56% of the sections of P2 of the UK Finance Lenders’ Handbook for Molo Finance Buy to Let 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
16.3.7a 22/10/2018 CML
Transfer of Equity
Contact details at Molo Finance Buy to Let Mortgages for approved lawyers for obtaining execution of transfer equity
3.2.4 22/10/2018 CML
Sellers not having Legal Representation
Contact details at Molo Finance Buy to Let Mortgages for conveyancing panel lawyers to used where Molo Finance Buy to Let Mortgages needs to be notified when the seller does not have legal representation.
5.15.2a 22/10/2018 CML
Leasehold Conveyancing : Management Company
Contact details at Molo Finance Buy to Let Mortgages for conveyancing panel lawyers for apparent problems with the management company.
5.15.2c 22/10/2018 CML
Leasehold Conveyancing : Management Company
Molo Finance Buy to Let Mortgages panel lawyers leasehold conveyancing requirements : requirement as to whether a copy of the signed blank stock transfer form needs to be sent to them
6.1.3 22/10/2018 CML
Mortgage offer not taken up
Contact details at Molo Finance Buy to Let Mortgages for approved lawyers where for reporting purposes if borrower is not taking up the mortgage offer
6.4.5 22/10/2018 CML
Full monies through the firm's account
Contact details at Molo Finance Buy to Let Mortgages for approved lawyers were the law firm will not have control over the payment of all the purchase money.
6.6.2 22/10/2018 CML
Buy to Let Conveyancing
Contact details at Molo Finance Buy to Let Mortgages for approved lawyers when law firm does not have details of current letting or letting to take place at completion.
6.9.1 22/10/2018 CML
Easements
Contact details at Molo Finance Buy to Let Mortgages for conveyancing panel lawyers if necessary easements are absent
Unknown Rights and Easements Indemnity Insurance
7.3 22/10/2018 CML
Occupiers at the Property
Molo Finance Buy to Let Mortgages approved conveyancer requirements for adult occupiers : Do Molo Finance Buy to Let Mortgages require a consent to mortgage from all occupants aged 17 or over
8.1 22/10/2018 CML
Circumstances Requiring Independent Legal Advice
Molo Finance Buy to Let Mortgages approved conveyancer requirements re circumstances requiring independent legal advice : Do Molo Finance Buy to Let Mortgages allow a firm to advise any of the specified third parties

Last update 07/11/2019

Molo Finance Buy to Let Conveyancing Panel : Questions and Answers from members of the public

My fiance and I are buying a 3 bedroom apartment in London with a mortgage from Molo Finance Buy to Let. We like our solicitor but Molo Finance Buy to Let says he's not on their "panel". It seems we have little choice but to instruct one of the Molo Finance Buy to Let panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Molo Finance Buy to Let conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Molo Finance Buy to Let
Our conveyancer has identified a problem with the lease for the flat we are purchasing. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Molo Finance Buy to Let conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Molo Finance Buy to Let?
Just because you have a mortgage offer from Molo Finance Buy to Let does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Molo Finance Buy to Let are the client. The appropriate lender requirements have to be complied with by the Molo Finance Buy to Let conveyancing panel who has to balance acting for you and Molo Finance Buy to Let
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Molo Finance Buy to Let conveyancing panel. My lawyer has said that they are on the Molo Finance Buy to Let approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Molo Finance Buy to Let conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Molo Finance Buy to Let solicitor panel.
I am remortgaging my flat does my lawyer need to be on the Molo Finance Buy to Let Solicitor panel?
There is nothing to stop you using your solicitor but Molo Finance Buy to Let 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.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Molo Finance Buy to Let conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is 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 conveyancing solicitors.
is it true that all conveyancing solicitors on the Molo Finance Buy to Let conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Molo Finance Buy to Let 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).
Completion of my purchase has taken place with a mortgage from Molo Finance Buy to Let. Conveyancing was satisfactory but I would like to complain about Molo Finance Buy to Let. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the Molo Finance Buy to Let branches or the Customer Services Team at Molo Finance Buy to Let head office. Ordinarily complaints to Molo Finance Buy to Let are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service with full details of your complaint.