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Tandem Bank Conveyancing Panel : Questions and Answers
Can you please explain the reason why all UK lawyers are not on the Tandem Bank Conveyancing panel?
Tandem Bank and other banks tend to imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Tandem Bank have no responsibility for the quality of advice provided by any member of Tandem Bank Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Please assist. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Tandem Bank was dated random date and we have agreed a date for me to move into the property on 6. My lawyer informs me that as she is on the Tandem Bank conveyancing panel she needs to redo the searches as they are now out of date.
A precondition to being on the Tandem Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Tandem Bank)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Tandem Bank.
Do I need to have a meeting at the offices of the Tandem Bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Liverpool
so that I can attend their offices if required.
Most conveyancing panel lawyers for Tandem Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am trying to get my former partner removed the mortgage deeds. Can Tandem Bank really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Tandem Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Tandem Bank solicitors panel
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Tandem Bank conveyancing panel requirements are different to Tandem Bank’s conveyancing panel criteria.
We are getting a further advance on our mortgage from Tandem Bank as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Tandem Bank conveyancing panel to deal with the paperwork?
Tandem Bank do not ordinarily instruct a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Tandem Bank panel
It is not clear whether my mortgage offer requires a lease extension . I have called Tandem Bank on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Tandem Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Tandem Bank panel she or he must comply with the CML Handbook requirements for Tandem Bank. Unless your lawyer obtains specific confirmation in writing that Tandem Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Tandem Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.