Barclays plc Conveyancing Panel Information

The Council of Mortgage Lenders, along with Barclays plc and other stakeholders developed a standard set of instructions where a solicitor is acting for a lender such as Barclays plc alone in a residential conveyancing transaction. These requirements are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be read together with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

In the same way that there is a unique Barclays plc 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.

During 2013, 74 sections of the UK Finance Lenders’ Handbook P2 were changed by Barclays plc. Some changes are more important than others but as a firm on the Barclays plc conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

With banks and property lawyers working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Barclays plc conveyancing panel but for all lender panels

CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to join their approved list of conveyancing solicitors. A number of mortgage companies now use CQS as the starting point for Panel approval as is the case with HSBC.

You need to get in touch with Barclays plc to obtain standard documents. The CML Handbook includes an individual inquiry for lenders to reveal who to contact to obtain standard documents. Barclays plc in their Part 2’s state: Always remember to disclose your Barclays plc conveyancing panel reference.