Accord Buy to Let Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Accord Buy to Let and to assist in remaining on the Accord Buy to Let Conveyancing Panel.

Accord Buy to Let Conveyancing Panel: Recently Asked Questions

An established client of mine is buying a property for £800,000 in Leeds with a mortgage over GBP 450,000. I am on the Accord Buy to Let conveyancing panel but do Accord Buy to Let have a separate approved panel when a mortgage is above 400,000?
We only know of a couple of lenders that operate a separate approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Accord Buy to Let. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Accord Buy to Let

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Can you give me an example of some of the reports available via COMPLETIONmonitor to support my appeal to be reinstated on the Accord Buy to Let solicitor panel?
There are many reports available, five of which are as follows:
  • Average time frame to send deeds to the lender (calculated from completion date or title registration)
  • The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
  • Buy to Let transactions
  • Analysis as to the nature of clients (e.g.existing/new/seen in person)
  • Average mortgage advance
As the COLP for my firm what do I need to consider in terms of disclosures to the SRA if my firm is removed off the Accord Buy to Let conveyancing panel?
What you should do largely depends on the reason that your firm has been removed off the Accord Buy to Let conveyancing panel. The top 3 reasons are as follows:
  1. lack of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction.
In these three circumstances it is unlikely that you would expected to take any action. Disclosure and other compliance considerations are more likely to be relevant if the reason for removal is due to breaches of lender requirements or allegations of fraud or negligence. Whether the reasoning should trigger a disclosable 'material' breach will depend on the firm and the circumstances around possible failures to comply with the SRA Authorisation Rules, and the SRA will judge each case on its own merits. Factors such as the detriment or risk of detriment to clients, the scale of the issue and overall impact on the firm will need to be considered in deciding whether a failure is 'material'. As the compliance officer you will need systems to identify patterns of breaches. Even if you don't consider there to be regulatory implications the firms COFA should give some thought to whether she/he needs to take any action as result of being removed from the Accord Buy to Let conveyancing panel.
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 Accord Buy to Let conveyancing panel requesting that we undertake to send certain post-completion documents to a law firm on the approved solicitor list for Accord Buy to Let. 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 Accord Buy to Let 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 Accord Buy to Let panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and Accord Buy to Let 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 Accord Buy to Let’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 Accord Buy to Let. You will no doubt be required to undertake directly to Accord Buy to Let’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 Accord Buy to Let conveyancing panel.
In carrying out leasehold conveyancing do Accord Buy to Let conveyancing panel lawyers have to consider if there is a missing freeholder?
Assuming that your firm in is on the Accord Buy to Let 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 Accord Buy to Let are to lend, they may require indemnity insurance. In any event,you will need to check Accord Buy to Let’s specific requirements. Notwithstanding whether Accord Buy to Let will lend in such circumstances you still need to advise the borrower (unless you are acting for Accord Buy to Let alone) as to the risks of buying a property with an insolvent or absentee freeholder.
If my application is successful will Conveyancing Quality Scheme membership guarantee my firm’s acceptance on to lenders conveyancing panels?
CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of conveyancing solicitors. Some Lenders now use the scheme as the starting point for Panel approval such as Santander.
Our practice is on the Accord Buy to Let conveyancing panel and scheduled to complete a remortgage within the next week. My file does not contain a Mortgage Deed for the client to execute. Who do I contact at Accord Buy to Let to obtain duplicate documents?
You should get in touch with Accord Buy to Let to obtain standard documents. The CML Handbook contains an explicit section for banks to enumerate who to contact to obtain standard documents. Accord Buy to Let in their Part 2’s state:
Don’t forget to disclose your Accord Buy to Let solicitors panel number.

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Average number of days to register title including a charge in favour of Accord Buy to Let
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 [no data]
2022 54.0
2021 [no data]
2020 [no data]
2019 [no data]
* Data aggregated from sources including COMPLETIONmonitor