Accord Buy to Let Conveyancing Panel Information

One might ordinarily expect Accord Buy to Let via their Part Two obligations to address this but the Handbook is silent on deadlines to send deeds. Do look at the Terms of Accord Buy to Let’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms include a provision along the following lines: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Accord Buy to Let updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

In order to be on the Accord Buy to Let conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Accord Buy to Let) are as follows:

• To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.

In the same way that there is a unique Accord Buy to Let conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

There are various requirements are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Accord Buy to Let immediately. Second, You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Accord Buy to Let’s mortgage offer are correct. If they are not, please let Accord Buy to Let know as soon as possible as it will be necessary for Accord Buy to Let to check with the valuer whether the valuation needs to be revised. Accord Buy to Let conveyancing panel solicitors are not expected to assume the role of valuer. Accord Buy to Let are simply trying to ensure that the valuer has valued the property based on correct information. Thirdly, Accord Buy to Let recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Accord Buy to Let recommend that, if we send a copy of a valuation report that Accord Buy to Let have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Accord Buy to Let or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Accord Buy to Let conveyancing panel

CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their panels. Some Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel acceptance such as Astra Mortgages.

You need to get in touch with Accord Buy to Let to obtain standard documents. The CML Handbook includes an individual section for banks to set out who to contact to obtain standard documents. Accord Buy to Let in their Part 2’s state: You will need to quote your Accord Buy to Let conveyancing panel reference.