Together Personal Finance Conveyancing Panel Information

Together Personal Finance’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

One might ordinarily expect Together Personal Finance via their Part 2 requirements to address this but the Handbook is silent on time frames. You need to look at the Terms of Together Personal Finance’s Conveyancing Panel Appointment that you are bound by. 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 Together Personal Finance updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

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 Together Personal Finance as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Together Personal Finance we suggest that you call Together Personal Finance to check the position.

Given that your firm in is on the Together Personal Finance conveyancing panel and you are representing 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 freeholder.

In this situation please explain on the form what action you have taken to discover the reasons behind cancellation of your Together Personal Finance panel status. 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 should contact Together Personal Finance to obtain standard documents. The CML Handbook incorporates a specific section for banks to cite who to contact to obtain standard documents. Together Personal Finance in their Part 2’s state: Don’t forget to disclose the firm’s Together Personal Finance solicitors panel number.