Bradford & Bingley Conveyancing Panel Information

Paragraph 16.2.1 of the UK Finance Lenders’ Handbook applicable to a solicitor on the Bradford & Bingley conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Bradford & Bingley 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 Bradford & Bingley 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 client.

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?

One search supplier 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 contact your search provider or call one of the leading search companies such as Searchflow.

As is the case with the Law Society the CLC has begun dialogue with lenders 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 Bradford & Bingley as well as the BSA.

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 freeholder.

In this situation please explain on the application what steps 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 revocation 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 communicate with Bradford & Bingley to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual inquiry for banks to enumerate who to contact to obtain standard documents. Bradford & Bingley in their Part 2’s state: Don’t forget to quote your Bradford & Bingley conveyancing panel number.