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Tipton Coseley Building Society Conveyancing Panel: Recently Asked Questions
Am I obliged,
being on the
Tipton Coseley Building Society conveyancing panel, to carry out a Lawyer Checker Search, an HS2 search?
Tipton Coseley Building Society 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’.
Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Tipton Coseley Building Society 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?
A leading search provider lists over 70 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 call your search provider or call one of the leading search companies such as STL.
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
The fact of the matter is that estate agents are feeling the pain if their clients start out on the conveyancing process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many
conveyancing firms are only discovering when they begin working on a
case that they are no longer able to work with that lender. Given
the inevitable resultant delays in the transaction the chances of an
abortive deal increases dramatically. in the circumstances there is
understandable anguish on the part of the estate agent as a result of
the lost time should the client have to change lawyers.
Given my firm’s membership on the Tipton Coseley Building Society conveyancing panel how long am I expected to retain the original conveyancing file?
The CML Part II requirements of
Tipton Coseley Building Society are silent on this. Most lenders deal with the issue of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect Tipton Coseley Building Society’s interest. To be
absolutely sure of Tipton Coseley Building Society requirements in this regard
please check the Terms and Conditions of Tipton Coseley Building Society’s
conveyancing panel appointment.
Does my firm run the risk of removal off the
Tipton Coseley Building Society conveyancing panel if I have not sent the deeds on a purchase within a certain time frame from draw-down of funds?
You might expect
Tipton Coseley Building Society via their Part Two requirements to address this but the Handbook makes no mention on time frames. You need to look at the Terms of
Tipton Coseley Building Society’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms contain a clause along the following lines:
‘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 important to keep
Tipton Coseley Building Society informed.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
My firm is on the
Tipton Coseley Building Society conveyancing panel. I am dealing with
Tipton Coseley Building Society mortgage on a purchase. My borrower client is asking not to disclose an issue to
Tipton Coseley Building Society. What do I do in this conflict situation?
When a solicitor is acting for both
Tipton Coseley Building Society and borrower there is potential for conflicts
to arise. You owe duties to both clients. All information received by
you from your client is confidential and cannot be disclosed without
the client’s consent. In the situation you find yourself in if the
purchaser will not consent to the information being passed on to the
lender the solicitor must cease to act for the Tipton Coseley Building Society
and it may well be prudent you to cease to act for the purchaser as
well. You can not tell the Tipton Coseley Building Society the reason for
termination of the retainer over and above the fact that a conflict
has arisen. The fact that you can no longer act should alert even the
most somnambulistic of lenders that something is wrong with the
borrower and/or purchase. The fact that you have disinstructed
yourself should not affect your Tipton Coseley Building Society conveyancing
panel status.
Our membership of the
Tipton Coseley Building Society conveyancing panel was suspended but was reinstated on appeal, do I need to disclose these details on my CQS application?
It would be advisable to provide details of the date of removal, information on the reason for
removal, date of appeal and any reason given for reinstatement. This
should not negatively affect your application but gives the Law Society a complete picture of what has gone on.
I am on the
Tipton Coseley Building Society
conveyancing panel and due to complete a purchase within the next few weeks. I can not locate a Legal Charge for the client to sign.
Who do I contact at Tipton Coseley Building Society to obtain duplicate documents?
You would be advised to contact Tipton Coseley Building Society
to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an explicit question for banks to cite who to contact to obtain standard documents.
Tipton Coseley Building Society in their Part 2’s state:
Please remember to disclose the firm’s Tipton Coseley Building Society solicitors panel number.
Find a Lawyer on the Tipton Coseley Building Society Solicitor Panel
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Average number of days to register title including a charge in favour of Tipton Coseley Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Tipton Coseley Building Society Firms
- Draft Report on Title precedent for Tipton Coseley Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Tipton Coseley Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Tipton Coseley Building Society lender panel
- Buy-to-Let help for Tipton Coseley Building Society
- Consent-to-Let help for Tipton Coseley Building Society
- Contractor Mortgages with Tipton Coseley Building Society
