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. Does your ROT and Ts and Cs cover this?

One search supplier lists over 65 conveyancing 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 contact your search provider or call one of the leading search companies such as STL.

Lexsure only know of a couple of lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Secure Trust Bank. 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 Secure Trust Bank

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by Secure Trust Bank. Some changes are more important than others but as a firm on the Secure Trust Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

With lenders and conveyancing firms working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Secure Trust Bank conveyancing panel but for all bank panel listings

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 should get in touch with Secure Trust Bank to obtain standard documents. The CML Handbook incorporates an individual question for lenders to set out who to contact to obtain standard documents. Secure Trust Bank in their Part 2’s state: It helps to quote your Secure Trust Bank solicitors panel reference.