Tandem Bank Conveyancing Panel Information

Section 16.2.1 of the UK Finance Lenders’ Handbook applicable to a solicitor on the Tandem Bank conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Lexsure has not been advised of any intention on the part of the CML to develop such a search facility.

The CML Part II requirements of Tandem Bank are silent on this. Most lenders address the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Tandem Bank’s interest. To be absolutely sure of Tandem Bank requirements in this regard please check the Terms and Conditions of Tandem Bank’s conveyancing panel appointment.

What you should do largely depends on the reason that your firm has been removed off the Tandem 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 COLP 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 Tandem Bank conveyancing panel.

It would be advisable to supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your application but gives the Law Society a complete picture of what has gone on.

You need to get in touch with Tandem Bank to obtain standard documents. The CML Handbook contains an explicit section for banks to set out who to contact to obtain standard documents. Tandem Bank in their Part 2’s state: Always remember to quote the firm’s Tandem Bank solicitors panel reference.