Barclays plc Conveyancing Panel Information

Lexsure only know of two or three lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Barclays plc. 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 Barclays plc

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 Barclays plc conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Number of lender conveyancing panels the firm is currently on

Full disciplinary history for each licensed conveyancer

Areas of Law covered by the firm

Full complaints history for each conveyancing solicitor

House price discrepancies (declared to lender vs. registered at Land Registry)

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

Number of partners per branch of the firm

Full complaints history for each licensed conveyancer

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

Structure of firm and, where applicable, its group

The CLC has initiated discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as Barclays plc as well as the CML.

Barclays plc approved solicitors have to comply with the Part II 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 Barclays plc require, the deed of covenant on their behalf. You will need to check Barclays plc CML Part 2 conditions to see if Barclays plc 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 Barclays plc conveyancing panel

The Law Society’s 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 join their approved list of conveyancing solicitors. A number of Lenders now use the scheme as the starting point for Panel approval as is the case with Santander.

You would be advised to communicate with Barclays plc to obtain standard documents. The CML Handbook has an explicit section for banks to cite who to contact to obtain standard documents. Barclays plc in their Part 2’s state: It is likely that you will need to disclose the firm’s Barclays plc solicitors panel reference.