Mortgage Agency Services Conveyancing Lender Panel Compliance Tool

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

This software is the only way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Mortgage Agency Services’s changes. While utilising the tool is not a prerequisite for Mortgage Agency Services , demonstrating you can stay up to date with Mortgage Agency Services’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Mortgage Agency Services

Lenders often change their requirements. The UK Finance Lenders’ Handbook requirements from Mortgage Agency Services 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, Mortgage Agency Services has made 22 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 124.1 days. In total, 10% of the sections of P2 of the UK Finance Lenders’ Handbook for Mortgage Agency Services have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Q and A’s regarding the Mortgage Agency Services Conveyancing Panel from members of the public

My fiance and I are buying a 1 bedroom apartment in Hackney with a mortgage from Mortgage Agency Services. We would like to retain our solicitor but Mortgage Agency Services says she’s not on their "panel". It seems we have little choice but to instruct one of the Mortgage Agency Services panel firms 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?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Mortgage Agency Services 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Mortgage Agency Services
I do hope you can help me. My solicitor is informing me me that he is legally obliged to order a Local Authority search because the firm are on the Mortgage Agency Services conveyancing panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with Mortgage Agency Services your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Mortgage Agency Services’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Mortgage Agency Services. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
How up to date is your search tool for the Mortgage Agency Services conveyancing panel? Do Mortgage Agency Services send you an updated list?
The firms themselves provide us confirmation that they are on the Mortgage Agency Services conveyancing panel as opposed to being supplied with a list from Mortgage Agency Services directly.
I am thinking of refinancing my property does my lawyer have to be on the Mortgage Agency Services Solicitor panel?
In theory, you could use a solicitor that is not on Mortgage Agency Services conveyancing panel, but Mortgage Agency Services 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 conveyancing matter.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Mortgage Agency Services be concerned
Given that your lender is Mortgage Agency Services your lawyer must to check the Mortgage Agency Services conveyancing instructions contained in the Part of CML Handbook for Mortgage Agency Services . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Mortgage Agency Services where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I have paid off my mortgage with Mortgage Agency Services. I assume I don't need a solicitor on the Mortgage Agency Services panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Mortgage Agency Services mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Mortgage Agency Services mortgage from the register. Mortgage Agency Services,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Mortgage Agency Services has sent the Land Registry the discharge electronically, and the Mortgage Agency Services has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Mortgage Agency Services mortgage has been paid off.
My husband and I are purchasing a garden flat in Hendon. Conveyancing solicitors in Hendon are about to beretained. My brother-in-lawsuggested that we make sure that the conveyancer in Hendon is on the Mortgage Agency Services list of approved conveyancing firms. Aren't all lawyers on the Mortgage Agency Services panel?
Not all Hendon conveyancing firms are on the Mortgage Agency Services conveyancing panel. Use the above search tool to locate a Hendon conveyancing firm on the on the Mortgage Agency Services panel.