Platform Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. It is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Platform’s changes. Notwithstanding that utilising the tool is not a prerequisite for Platform , demonstrating you can remain up to date with Platform’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your panel standing.

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

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Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Platform 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, Platform has made 174 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 15.7 days. In total, 33% of the sections of P2 of the UK Finance Lenders’ Handbook for Platform have been changed since 15/12/2008.

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Platform Home Loans Solicitor Panel Sample Enquires to our Call Center from members of the public

I have just been informed by my broker that my the law firm I have appointed is not on the Platform Home Loans Conveyancing panel. What can I do to be sure that this is correct?
The first thing you need to do is to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Platform Home Loans.
Please help. My conveyancer is assuring me that he is legally obliged to order a Local Authority search because the firm are on the Platform Home Loans conveyancing panel. Do I not have a choice here?
You have limited options available to you. Given that you are taking out a loan with Platform Home Loans 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 Platform Home Loans’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Platform Home Loans. 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 Platform Home Loans conveyancing panel? Do Platform Home Loans send you an updated list?
The firms themselves provide us confirmation that they are on the Platform Home Loans conveyancing panel as opposed to being supplied with a list from Platform Home Loans directly.
We're in Birmingham, First time buyers buying with a mortgage (lender is Platform Home Loans , but our lawyer is on the Platform Home Loans conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Platform Home Loans conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Platform Home Loans have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Platform Home Loans your lawyer must to check the Platform Home Loans conveyancing instructions contained in the Part of CML Handbook for Platform Home Loans . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Platform Home Loans 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.
We were going to get a DIP from Platform Home Loans this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Platform Home Loans recommend a solicitor on the Platform Home Loans conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Platform Home Loans conveyancing panel. The solicitor represents both you and the Platform Home Loans through the process.
My existing mortgage is with Platform Home Loans. My grandfather retired last week and wants to pay off the mortgage left on the property. After Platform Home Loans is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Platform Home Loans conveyancing panel? I do not intend to live at the property once the Platform Home Loans mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Platform Home Loans 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. There's no capital gains tax for you as it is your main residence.