Aldermore Bank Conveyancing Panel Information

The CML do not hold data sets of P2 requirements pre-December 2010. The CML advise that you contact Aldermore Bank directly.

Aldermore Bank make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Aldermore Bank are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the borrower.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?

A leading search provider lists over 65 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as Searches UK.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Aldermore Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

SRA or equivalent regulator registration number where applicable

Number of lender conveyancing panels the firm is currently on

Solicitor

Whether any lender has ever made a claim against the firm’s PII cover

purchase and remortgage)

top-up split and history of any refusals

House price discrepancies (declared to lender vs. registered at Land Registry)

Whether the firm has ever applied for accreditation and the outcome of the application

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Full disciplinary history for each licensed conveyancer

As is the case with the Law Society the Council of Licensed Conveyancers has entered dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Aldermore Bank as well as the CML.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Aldermore Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to get in touch with Aldermore Bank to obtain standard documents. The CML Handbook includes an explicit section for lenders to cite who to contact to obtain standard documents. Aldermore Bank in their Part 2’s state: Don’t forget to quote the firm’s Aldermore Bank conveyancing panel reference.