Tipton Coseley Building Society Conveyancing Panel Information

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Tipton Coseley Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Whether the firm has ever applied for accreditation and the outcome of the application

Number of lender conveyancing panels the firm is currently on

The percentage of the firm’s business which is conveyancing (broken down into sale

Full complaints history for each licensed conveyancer

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

Structure of firm and, where applicable, its group

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

List of all solicitors within firm

List of all those who fund the firm, including non-lawyers if applicable

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

There are many reports available, five of which are as follows:

• Average time frame to register charges at the Land Registry
• Evidence of undertaking logs
• Number of conveyancing cases by lender
• Average mortgage advance
• Buy to Let transactions

In order to be on the Tipton Coseley Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Tipton Coseley Building Society) are as follows:

• To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
• To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
• To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.

In the same way that there is a unique Tipton Coseley Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

We would recommend that you provide 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 viability as to what has occured.

You should communicate with Tipton Coseley Building Society to obtain standard documents. The CML Handbook contains an individual question for lenders to reveal who to contact to obtain standard documents. Tipton Coseley Building Society in their Part 2’s state: It helps to quote your Tipton Coseley Building Society solicitors panel reference.