The Mortgage Works Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on The Mortgage Works’s changes. While using the tool is not a condition for being on the The Mortgage Works panel, demonstrating you can stay up to date with The Mortgage Works’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your panel standing.

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

Find a Law Firm approved by The Mortgage Works

Mortgage companies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from The Mortgage Works 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, The Mortgage Works has made 287 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 9.5 days. In total, 61% of the sections of P2 of the UK Finance Lenders’ Handbook for The Mortgage Works 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
6.7.1 01/07/2019 CML
6.6.3 18/06/2019 CML
5.14.9 06/06/2019 CML
5.15.2a 04/06/2019 CML
5.15.2a 02/05/2019 CML
6.7.1 07/08/2018 CML
6.7.1 14/06/2018 CML
6.7.1 16/03/2018 CML
6.12.1 05/03/2018 CML
6.6.3 24/10/2017 CML

Last update 05/11/2019

Q and A’s regarding the The Mortgage Works Conveyancing Panel from members of the public

I am hoping to receive a offer of a mortgage from The Mortgage Works. I hope to retain the legal services of a Licensed Conveyancer. Does the The Mortgage Works Solicitor panel include Licensed Conveyancers
The Mortgage Works’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our conveyancer has uncovered a problem with the lease for the apartment we are buying. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the The Mortgage Works conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or The Mortgage Works?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and The Mortgage Works are the client. A precondition to being on the The Mortgage Works approved panel is to comply with the CML Handbook requirements (last updated for this lender on The Mortgage Works). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that The Mortgage Works can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am buying a property and need a conveyancing solicitor in Newcastle who is on the The Mortgage Works solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for The Mortgage Works . We don’t recommend any particular firm.
I am considering applying for a The Mortgage Works mortgage for purchase of a new build (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for The Mortgage Works?
There is nothing to stop you using your solicitor but The Mortgage Works will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Are all Conveyancing Quality Solicitors on the The Mortgage Works conveyancing panel?
A selection of lenders now use the accreditation scheme 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 Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I was told four weeks ago that my mortgage has been agreed to by The Mortgage Works. Is it usual for The Mortgage Works to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for The Mortgage Works to deal with your lawyers application to be on the The Mortgage Works conveyancing panel. There's no guarantee that your solicitors will be accepted.
The Mortgage Works have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up The Mortgage Works or your broker and complete any relevant paperwork. The Mortgage Works will tell you what documents they want. The Mortgage Works will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. The Mortgage Works will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.