Birmingham Bank Conveyancing Panel Information

The CML Part II requirements of Birmingham Bank are silent on this. Most mortgage companies address the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 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 Birmingham Bank’s interest. To be absolutely sure of Birmingham Bank requirements in this regard please check the Terms and Conditions of Birmingham Bank’s conveyancing panel membership.

One might ordinarily expect Birmingham Bank via their Part 2 requirements to address this but the Handbook makes no mention on time frames. Do look at the Terms of Birmingham Bank’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms contain a clause such as: ‘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 imperative to keep Birmingham Bank updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

What you should do largely depends on the reason that your firm has been removed off the Birmingham Bank 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 COLP 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 Birmingham Bank conveyancing panel.

CQS membership gives 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 mortgage companies now use the scheme as the starting point for Panel acceptance such as Santander.

You should contact Birmingham Bank to obtain standard documents. The CML Handbook includes a specific inquiry for lenders to reveal who to contact to obtain standard documents. Birmingham Bank in their Part 2’s state: It helps to quote the firm’s Birmingham Bank conveyancing panel number.