Bradford & Bingley Conveyancing Panel Information

We can't comment specifically on Bradford & Bingley. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.

Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in arrears with the lender he is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.

The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.

During 2013, 59 sections of the UK Finance Lenders’ Handbook P2 were changed by Bradford & Bingley. Some changes are more important than others but as a firm on the Bradford & Bingley 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.

On the basis that your practice in is on the Bradford & Bingley conveyancing panel and you are representing 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 Bradford & Bingley are to lend, they may require indemnity insurance. In any event,you will need to check Bradford & Bingley’s specific requirements. Notwithstanding whether Bradford & Bingley will lend in such circumstances you still need to advise the borrower (unless you are acting for Bradford & Bingley alone) as to the risks of buying a property with an insolvent or absentee landlord.

7 consumers search for a conveyancer on the Bradford & Bingley panel on a monthly basis in Hendon. Please contact the team at lenderpanel.com to see how your firm can be found by those searching for conveyancing in Hendon.

In this situation please explain on the form what action you have taken to find out the reasons behind cancellation of your Bradford & Bingley 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 should get in touch with Bradford & Bingley to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual section for lenders to enumerate who to contact to obtain standard documents. Bradford & Bingley in their Part 2’s state: Don’t forget to disclose the firm’s Bradford & Bingley solicitors panel reference.