Hinckley and Rugby Conveyancing Panel Information

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

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)

List of all those staff who work within the conveyancing team

List of all those who can sign off the Certificate Of Title

Number of lender conveyancing panels the firm is currently on

Charge registration history

The percentage of the firm’s business which is conveyancing (broken down into sale

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. change of management)

Whether the firm is able to operate in other jurisdictions

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

One might ordinarily expect Hinckley and Rugby via their Part Two obligations to address this but the Handbook makes no mention on deadlines to send deeds. You need to look at the Terms of Hinckley and Rugby’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms contain a provision along the following lines: ‘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 important to keep Hinckley and Rugby updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

There are many reports available, five of which are as follows:

• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Buy to Let transactions
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Current and historic missed priority dates
• Evidence of undertaking logs

You have a number of obligations in this regard which are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Hinckley and Rugby immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Hinckley and Rugby’s mortgage offer are correct. If they are not, please let Hinckley and Rugby know as soon as possible as it will be necessary for Hinckley and Rugby to check with the valuer whether the valuation needs to be revised. Hinckley and Rugby conveyancing panel solicitors are not expected to assume the role of valuer. Hinckley and Rugby are simply trying to ensure that the valuer has valued the property based on correct information. (c) Hinckley and Rugby recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Hinckley and Rugby recommend that, if we send a copy of a valuation report that Hinckley and Rugby have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Hinckley and Rugby or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Hinckley and Rugby conveyancing panel

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 Hinckley and Rugby solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to communicate with Hinckley and Rugby to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express question for lenders to establish who to contact to obtain standard documents. Hinckley and Rugby in their Part 2’s state: Always remember to quote your Hinckley and Rugby solicitors panel reference.