Co operative Bank Conveyancing Panel Information

In the same way that there is a unique Co operative Bank 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.

With mortgage companies 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 Co operative Bank conveyancing panel but for all bank panels

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 Co operative Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to communicate with Co operative Bank to obtain standard documents. The CML Handbook contains a specific inquiry for lenders to enumerate who to contact to obtain standard documents. Co operative Bank in their Part 2’s state: Always remember to quote the firm’s Co operative Bank solicitors panel number.