Tipton Coseley Building Society Conveyancing Panel Information

Section 16.2.1 of Part 1 of the Handbook applicable to a solicitor on the Tipton Coseley Building Society 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’.

The Council of Mortgage Lenders, along with Tipton Coseley Building Society and other lenders created a standard set of instructions where a conveyancer is representing a lender such as Tipton Coseley Building Society alone in a residential conveyancing transaction. These legal instructions are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be read in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.

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.

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.

It would be advisable to 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 application but gives the CQS team viability as to what has gone on.

You need to contact Tipton Coseley Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an explicit 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 disclose your Tipton Coseley Building Society solicitors panel reference.