Topaz Finance Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. COMPLETIONmonitor 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 automatic updates on Topaz Finance’s changes. Notwithstanding that utilising the tool is not a prerequisite for Topaz Finance , demonstrating you can remain up to date with Topaz Finance’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel status.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Topaz Finance

Lenders frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Topaz Finance 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, Topaz Finance has made 200 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 13.7 days. In total, 36% of the sections of P2 of the UK Finance Lenders’ Handbook for Topaz Finance have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Topaz Finance Solicitor Panel Sample Enquires to our Call Center from members of the public

Is there a reason why all property lawyers aren't included on the Topaz Finance Solicitor panel?
Topaz Finance and other lenders ordinarily restrict either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Topaz Finance have no responsibility for the quality of advice provided by any member of Topaz Finance Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
My solicitor has discovered an inconsistency between the information in Topaz Finance’s valuation report and what is in the legal papers for the property. My solicitor says that as he is on the Topaz Finance conveyancing panel he must ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?
A precondition to being on the Topaz Finance approved panel is to comply with the CML Handbook requirements (last updated for this lender on Topaz Finance) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Topaz Finance solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My conveyancers in Leeds have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Topaz Finance. Is it case that being on the Topaz Finance conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Topaz Finance Conveyancing Panel Terms. It might be worth you contacting Topaz Finance directly.
Why might a lender such as Topaz Finance withdraw a mortgage offer?
Banks and Building Societies such as Topaz Finance can revoke their mortgage offer although this rarely happens. In the unlikely event that Topaz Finance withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:
  • If the financial circumstances of the borrower have changed to the detriment and the Topaz Finance has been notified
  • Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Topaz Finance conveyancing panel solicitors would be obliged to notify Topaz Finance of a change in the price of the property.
  • Where to proceed with the Mortgage offer would be unlawful
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
We have agreed a price on a apartment I spoke to a conveyancer recommended by my brother and he advised retaining a law firm approved by Topaz Finance. The estate agent recommended two local firms so I asked Topaz Finance if the 2 suggested solicitors are approved, which they are not. Topaz Finance suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Topaz Finance 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Topaz Finance to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Topaz Finance conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Topaz Finance conveyancing panel as it may only take about 2-3 weeks. As long as they meet Topaz Finance’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
The for formalities of my remortgage has taken place with a mortgage from Topaz Finance. Conveyancing was of an acceptable standard but I would like to complain about Topaz Finance. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the Topaz Finance branches or the Customer Care Department at Topaz Finance head office. Ordinarily complaints to Topaz Finance are resolved very quickly. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service with full details of your complaint.