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Together Personal Finance Conveyancing Panel: Recently Asked Questions
Is it conceivable that
Together Personal Finance
will select another solicitor on the
Together Personal Finance
conveyancing panel for a further advance during the lifetime of a mortgage?
Section 16.2.1 of the UK Finance Lenders’ Handbook applicable to a solicitor on the
Together Personal Finance
conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.
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 will be suffering if their clients start out on the buying process using a conveyancer 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.
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Together Personal Finance conveyancing panel?
In order to be on the Together Personal Finance conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Together Personal Finance) are as follows:
- To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
- If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
- 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.)
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
Given that I am the COLP for my firm are there regulatory implications that I should be considering if my firm is suspended off the
Together Personal Finance conveyancing panel?
What you should do largely depends on the reason that your firm has been removed off the Together Personal Finance
conveyancing panel. The top 3 reasons are as
follows:
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
One of our conveyancers is acting for a seller of a property and we have received a letter from the buyers solicitors who are not on the
Together Personal Finance conveyancing panel requesting that we undertake to send certain post-completion documents to a law firm on the approved solicitor list for
Together Personal Finance. We have not come accross this before. Do we give the undertaking?
You will be aware of the trend in recent years for lenders such as
Together Personal Finance to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the
Together Personal Finance panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and
Together Personal Finance have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires
Together Personal Finance’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for
Together Personal Finance. You will no doubt be required to undertake directly to
Together Personal Finance’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off the
Together Personal Finance conveyancing panel.
My firm has just been advised that it’s Together Personal Finance panel membership suspended but we have not yet been given a reason as to why.
I am completing a CQS application questionnaire what details should I put forward?
In this situation please explain on the application 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 termination of your panel membership did you receive any letters or calls from the lender putting you on notice?
My firm is listed on the
Together Personal Finance
conveyancing panel and due to complete a purchase within the next week. I dont have a Mortgage Deed for the client to sign.
Who do I contact at Together Personal Finance to request substitute deeds?
You would be advised to contact Together Personal Finance
to obtain standard documents. The The Council of Mortgage Lenders 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:
It is likely that you will need to disclose your Together Personal Finance conveyancing panel reference.
Find a Lawyer on the Together Personal Finance Conveyancing Panel
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Average number of days to register title including a charge in favour of Together Personal Finance
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Together Personal Finance Firms
- Draft Report on Title precedent for Together Personal Finance borrowers
- Draft Anti Money Laundering PolicyTemplate for Together Personal Finance panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Together Personal Finance lender panel
- Buy-to-Let help for Together Personal Finance
- Consent-to-Let help for Together Personal Finance
- Contractor Mortgages with Together Personal Finance