Secure Trust Bank Conveyancing Panel Information

Secure Trust Bank make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Secure Trust Bank are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

One search provider lists over 65 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as Searches UK.

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

purchase and remortgage)

Structure of firm and, where applicable, its group

Full disciplinary history for each licensed conveyancer

Summary of annual accounts

Charge registration history

List of all Licensed Conveyancers within firm

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 who fund the firm, including non-lawyers if applicable

Full career history for each solicitor including admission date to the relevant Law Society

Number of lender conveyancing panels the firm is currently on

Please tread carefully here as what you are intending may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

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 Secure Trust Bank conveyancing panel to see if you are entitled to a reason.

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 Secure Trust Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to get in touch with Secure Trust Bank to obtain standard documents. The CML Handbook includes an explicit question for banks to establish who to contact to obtain standard documents. Secure Trust Bank in their Part 2’s state: It helps to disclose your Secure Trust Bank solicitors panel reference.