Tipton Coseley Building Society Conveyancing Panel Information

Although not necessarily published, lenders have varying criteria . 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):

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

Structure of firm and, where applicable, its group

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

Number of lender conveyancing panels the firm is currently on

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

List of all Licensed Conveyancers 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.

Full complaints history for each licensed conveyancer

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

The answer to this question really depends on the reason that your firm has been removed off the Tipton Coseley Building Society 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 Tipton Coseley Building Society conveyancing panel.

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.

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 viability as to what has happened.

You should communicate with Tipton Coseley Building Society to obtain standard documents. The CML Handbook contains a specific question for banks to establish who to contact to obtain standard documents. Tipton Coseley Building Society in their Part 2’s state: It is likely that you will need to quote the firm’s Tipton Coseley Building Society conveyancing panel number.