Perenna Conveyancing Panel Information

Perenna 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 Perenna 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. Is this covered within your Terms of Engagement or Report on Title?

One search supplier lists over 72 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 STL.

There are many reports available, five of which are as follows:

• Number of conveyancing cases by lender
• Average time frame to send deeds to the lender (calculated from completion date or title registration)
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Average mortgage advance
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Perenna as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Perenna we suggest that you call Perenna to check the position.

The best placed professionals to answer this question are your insurance brokers. 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 Perenna solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to communicate with Perenna to obtain standard documents. The CML Handbook includes an express question for banks to establish who to contact to obtain standard documents. Perenna in their Part 2’s state: You will need to disclose your Perenna conveyancing panel reference.