Aviva Equity Release Conveyancing Panel Information

The Council of Mortgage Lenders, along with Aviva Equity Release and other lenders created a standard set of requirements where a solicitor is acting for a lender such as Aviva Equity Release alone in a residential conveyancing transaction. These obligations are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Aviva Equity Release conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

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

conveyancer client account(s) details

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

Structure of firm and, where applicable, its group

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

Full disciplinary history for each licensed conveyancer

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

Areas of Law covered by the firm

Details of any accreditation e.g. Lexcel or

Full complaints history for each conveyancing solicitor

On the basis that your practice in is on the Aviva Equity Release conveyancing panel and you are instructed by them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Aviva Equity Release are to lend, they may require indemnity insurance. In any event,you will need to check Aviva Equity Release’s specific requirements. Notwithstanding whether Aviva Equity Release will lend in such circumstances you still need to advise the borrower (unless you are acting for Aviva Equity Release alone) as to the risks of buying a property with an insolvent or absentee freeholder.

15 people search for a conveyancing practitioner on the Aviva Equity Release panel on a monthly basis in Hendon. The lenderpanel directory service team who will show you how your firm can be found by those searching for conveyancing in Hendon.

In the circumstances please clarify on the form what action you have taken to discover the reasons behind cancellation of your Aviva Equity Release panel membership. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You need to communicate with Aviva Equity Release to obtain standard documents. The CML Handbook has an explicit inquiry for banks to reveal who to contact to obtain standard documents. Aviva Equity Release in their Part 2’s state: Please remember to disclose the firm’s Aviva Equity Release solicitors panel reference.