Tipton Coseley Building Society Conveyancing Panel Information

You need to be careful here as what you are suggesting may not be acceptable to the mortgage company. 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.

When a solicitor is acting for both Tipton Coseley Building Society and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Tipton Coseley Building Society and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Tipton Coseley Building Society the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Tipton Coseley Building Society conveyancing panel status.

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 Tipton Coseley Building Society conveyancing panel to see if you are entitled to a reason.

With mortgage companies and solicitors working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Tipton Coseley Building Society conveyancing panel but for all lender panels

You should 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 firm’s application but gives the Law Society a complete picture of what has gone on.

You should communicate with Tipton Coseley Building Society to obtain standard documents. The CML Handbook has an individual section for banks to set out who to contact to obtain standard documents. Tipton Coseley Building Society in their Part 2’s state: Always remember to quote the firm’s Tipton Coseley Building Society conveyancing panel number.