Together Personal Finance Conveyancing Panel Information

The CML Part II requirements of Together Personal Finance are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six 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 Together Personal Finance’s interest. To be absolutely sure of Together Personal Finance requirements in this regard please check the Terms and Conditions of Together Personal Finance’s conveyancing panel acceptance.

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Together Personal Finance conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

and Conveyancing Quality Scheme

Whether any lender has ever made a claim against the firm’s PII cover

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

Full complaints history for each licensed conveyancer

List of all Licensed Conveyancers within firm

Number of lender conveyancing panels the firm is currently on

Summary of annual accounts

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

Whether the firm has ever applied for accreditation and the outcome of the application

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. new disciplinary action)

Please tread carefully here as what you are suggesting may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

Together Personal Finance approved solicitors have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Together Personal Finance require, the deed of covenant on their behalf. You will need to check Together Personal Finance CML Part 2 conditions to see if Together Personal Finance have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Together Personal Finance conveyancing panel

In the circumstances please explain on the form what action 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 cessation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You need to communicate with Together Personal Finance to obtain standard documents. The CML Handbook incorporates an explicit question for banks to enumerate who to contact to obtain standard documents. Together Personal Finance in their Part 2’s state: Don’t forget to quote the firm’s Together Personal Finance solicitors panel number.