Together Personal Finance Conveyancing Panel Information

In the same way that there is a unique Together Personal Finance 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.

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. (a) 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 Together Personal Finance 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 Together Personal Finance’s mortgage offer are correct. If they are not, please let Together Personal Finance know as soon as possible as it will be necessary for Together Personal Finance to check with the valuer whether the valuation needs to be revised. Together Personal Finance conveyancing panel solicitors are not expected to assume the role of valuer. Together Personal Finance are simply trying to ensure that the valuer has valued the property based on correct information. (III) Together Personal Finance 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. Together Personal Finance recommend that, if we send a copy of a valuation report that Together Personal Finance 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 survey or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Together Personal Finance 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 Together Personal Finance conveyancing panel

Assuming that your firm in is on the Together Personal Finance conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Together Personal Finance are to lend, they may require indemnity insurance. In any event,you will need to check Together Personal Finance’s specific requirements. Notwithstanding whether Together Personal Finance will lend in such circumstances you still need to advise the borrower (unless you are acting for Together Personal Finance alone) as to the risks of buying a property with an insolvent or absentee landlord.

8 borrowers attempt to locate a conveyancer on the Together Personal Finance panel every 4 weeks in Hendon. Please contact the team at lenderpanel.com to see how your firm can be identified by those searching for conveyancing in Hendon.

In this situation please clarify on the form what steps you have taken to find out the reasons behind cancellation of your Together Personal Finance panel membership. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You need to contact Together Personal Finance to obtain standard documents. The CML Handbook includes an explicit question for lenders to establish who to contact to obtain standard documents. Together Personal Finance in their Part 2’s state: You will need to quote your Together Personal Finance conveyancing panel reference.