Co operative Bank Conveyancing Panel Information

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

Co operative Bank Conveyancing Panel: Recently Asked Questions

my firm is on the Co operative Bank conveyancing panel. Can I get an archived copy of a Co operative Bank Part 2 from the CML?
The Council of Mortgage Lenders do not keep duplicates of P2 requirements pre-December 2010. The CML advise that you make a request of Co operative Bank directly.

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Do Co operative Bank or the Council of Mortgage Lenders run CPD seminars for the Co operative Bank approved solicitor panel in much the same way that the Law Society run cases for CQS firms?
No such training is arranged by the CML although they do host a number of useful legal related conferences which are attended by firms on the Co operative Bank conveyancing panel. We do intend to run specific lender focused seminars in the near future including a webinar on Co operative Bank’s Part 2 requirements. Practitioners on the Co operative Bank conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor Alerts.
Theoretically Co operative Bank could request or audit my files as I am on the Co operative Bank conveyancing panel. How should I respond in the event of such a demand?
We can't comment specifically on Co operative Bank. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.

Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in arrears with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.

The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.

As the nominated Compliance Officer for Legal Practice should I be thinking about SRA Handbook implications if my firm is suspended off the Co operative Bank solicitor panel?
What you should do largely depends on the reason that your firm has been removed off the Co operative 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 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 Co operative Bank conveyancing panel.
I have been a solicitor for approximately 20 years with a clean claims history and have been refused acceptance on the Co operative Bank conveyancing panel with no explanation. Am I not entitled to a reason?
For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Co operative Bank conveyancing panel to see if you are entitled to a reason.
Lockton’s PII renewal form asks if my firm had been removed off any mortgage panels in the last 12 months. I recently became aware that the practice is no longer on the Co operative Bank conveyancing panel? Will that effect my insurance?
Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Co operative Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
Our practice is on the Co operative Bank conveyancing panel and all set to complete a remortgage within the next few weeks. My papers do not include a Mortgage Deed for the client to execute. Who do I contact at Co operative Bank to get a duplicate Deed?
You should communicate with Co operative Bank to obtain standard documents. The CML Handbook incorporates an express inquiry for banks to establish who to contact to obtain standard documents. Co operative Bank in their Part 2’s state:
Don’t forget to disclose the firm’s Co operative Bank conveyancing panel number.

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Average number of days to register title including a charge in favour of Co operative Bank
This information relates to purchase only and not remortgages.
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* Data aggregated from sources including COMPLETIONmonitor