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State Bank of India UK Solicitor Panel: Recently Asked Questions
Are State Bank of India UK Conveyancing panel lawyers obliged to disclose incentives?
State Bank of India UK’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
State Bank of India UK has instructed me to act for them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
State Bank of India UK conveyancing panel) How does this operate and are there different requirements from State Bank of India UK in this situation?
The Council of Mortgage Lenders, along with
State Bank of India UK and other stakeholders developed a standard set of requirements where a conveyancer is representing a lender such as State Bank of India UK alone in a residential conveyancing matter.
These obligations are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be read together with Sections One and Two.
The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good
reason. It is highly unlikely, given that lenders have distanced
themselves from creating a standardised appeals process for
brokers, that an appeals process will be introduced for
lawyers. Commenting on the call by brokers to have a standardised
process the CML said’ “While we understand that some lenders do have
an appeals process, it would not be appropriate for a trade body such
as the CML to seek to be prescriptive about such a process.” Some
lenders do of course set out an appeals policy. The Law Society does
have information on it’s site that may be of assistance. If you would
like to talk to one of our compliance experts about our Lender Panel
Protection Service please complete the form here.
What sort of information are Lenders such as
State Bank of India UK are asking for when it comes to applying to be on their approved conveyancing panel?
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
State Bank of India UK conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
Structure of firm and, where applicable, its group
PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic
List of all solicitors within firm
Areas of Law covered by the firm
Full complaints history for each licensed conveyancer
Whether the firm is able to operate in other jurisdictions
Full disciplinary history for each conveyancing solicitor
Charge registration history
Number of lender conveyancing panels the firm is currently on
List of fee-earners who are foreign qualified
Will CQS acceptance guarantee my firm’s acceptance on to lenders conveyancing panels?
The Law Society’s 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. A number of mortgage companies now use the scheme as the starting point for Panel membership such as Astra Mortgages.
I am on the
State Bank of India UK
conveyancing panel and all set to complete a purchase within the next week. My file does not contain a Legal Charge for the client to execute.
Who do I contact at State Bank of India UK to get a duplicate Deed?
You should contact State Bank of India UK
to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit question for banks to set out who to contact to obtain standard documents.
State Bank of India UK in their Part 2’s state:
Always remember to quote your State Bank of India UK conveyancing panel number.
Find a Lawyer on the State Bank of India UK Solicitor Panel
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Average number of days to register title including a charge in favour of State Bank of India UK
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
| 2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited State Bank of India UK Firms
- Draft Report on Title precedent for State Bank of India UK borrowers
- Draft Anti Money Laundering PolicyTemplate for State Bank of India UK panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the State Bank of India UK lender panel
- Buy-to-Let help for State Bank of India UK
- Consent-to-Let help for State Bank of India UK
- Contractor Mortgages with State Bank of India UK
