Tipton Coseley Building Society Conveyancing Panel Information

We can't comment specifically on Tipton Coseley Building Society. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the borrower and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.

Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if she is in dispute with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.

The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.

Most 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 Tipton Coseley Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Tipton Coseley Building Society we suggest that you call Tipton Coseley Building Society to check the position.

You have a number of obligations in this regard which are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Tipton Coseley Building Society immediately. (II) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Tipton Coseley Building Society’s mortgage offer are correct. If they are not, please let Tipton Coseley Building Society know as soon as possible as it will be necessary for Tipton Coseley Building Society to check with the valuer whether the valuation needs to be revised. Tipton Coseley Building Society conveyancing panel solicitors are not expected to assume the role of valuer. Tipton Coseley Building Society are simply trying to ensure that the valuer has valued the property based on correct information. (c) Tipton Coseley Building Society recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Tipton Coseley Building Society recommend that, if we send a copy of a valuation report that Tipton Coseley Building Society have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers report or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Tipton Coseley Building Society or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Tipton Coseley Building Society conveyancing panel

8 borrowers search for a solicitor on the Tipton Coseley Building Society panel on a monthly basis in Hendon. Please contact the team at lenderpanel.com to see how your firm can be identified by those searching for conveyancing in Hendon.

It would be advisable to supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the Law Society a complete picture of what has happened.

You should contact Tipton Coseley Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit inquiry for lenders to enumerate who to contact to obtain standard documents. Tipton Coseley Building Society in their Part 2’s state: Don’t forget to quote the firm’s Tipton Coseley Building Society conveyancing panel number.