21st
October

LMS Panel Link Post Completion Requirements

We are taking an opportunity to remind all panel members of our Panel Link post completion requirements.  Any specific lender requirements can be found within the following:

  • UK Finance Handbook
  • BSA Handbook
  • LMS Panel Link Conveyancer Zone Dashboard

To help ensure that the correct information is provided to LMS post completion and satisfy the lender’s requirements, we would like to reiterate the following points.

Where you are required to upload charge registration documents to the mortgage lender via Conveyancer Zone. The documents may vary between mortgage lenders and the jurisdiction.

  1. A link to your requirements can be found on a case basis via the case instruction itself
  2. A link to each lender’s requirement can be found via the Conveyancer Zone Dashboard

Example;

Jurisdiction On Funds Release Within 30 Days of Legal Completion Registration Complete Mandatory Delayed Charge Registration rationale required?
E&W OS1/OS2/K17/K18 Confirmation of Application to Register (AP1 or electronic receipt) Official Copy Register 30 days after completion
Scotland Advance Notice Confirmation of Application to Register (electronic receipt) Registered Land – Final Title Sheet 30 days after completion
Northern Ireland N/A Receipt for Application to Register Registered Land – Folio showing Charge and Inhibition, Mortgage Deed
Unregistered Land – Mortgage Deed		 30 days after completion

Documents should be uploaded in order, for example a copy of the Priority/Advance Notice should be provided before uploading a copy of the Application to Register.

Where you have been unable to register the mortgage lenders charge within thirty days of completion you are required to provide LMS with a reason at least every thirty days until registration is complete and evidence of the same is uploaded to the LMS Panel Link portal.

If for any reason you are unable to secure registration of the lenders charge within 30 days of completion, below is the list of standard delay reasons you can choose from:

  • Application to register cancelled or incorrect: further application to be submitted
  • Application to register made: first registration (90-day option for Scotland and NI)
  • Application to register made: landlord, management company, freeholder consents outstanding
  • Application to register made: no requisitions raised or outstanding
  • Application to register made: requisitions outstanding not related to existing charge
  • Application to register made: requisitions outstanding relating to discharge/vacate of existing charge
  • Application to register not yet submitted to the Land Registry

Please ensure the above information is available to all staff involved in post completion processing, failure to provide appropriate mitigation for delay or the upload of incorrect documents may result in additional and preventable action being undertaken by LMS that may result in your firm being charged a fee for checking the progress of the registration at the relevant Land Registry.

 

 

 

 

Posted:21/10/21