Secure Trust Bank Conveyancing Panel Information

We only know of a couple of lenders that operate a separate conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Secure Trust Bank. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Secure Trust Bank

The Council of Licensed Conveyancers has entered discussions with banks 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. It is likely that that the CLC have been in touch with lenders such as Secure Trust Bank since 2008 which is when lenders started being more restrictive.

You might expect Secure Trust Bank via their Part Two requirements to address this but the Handbook is silent on deadlines to send deeds. Do look at the Terms of Secure Trust Bank’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms contain a clause such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Secure Trust Bank informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by Secure Trust Bank. Some changes are more important than others but as a firm on the Secure Trust Bank 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.

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

You should contact Secure Trust Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an individual inquiry for banks to set out who to contact to obtain standard documents. Secure Trust Bank in their Part 2’s state: Please remember to quote your Secure Trust Bank solicitors panel number.