Q and A’s regarding the Co operative Bank Conveyancing Panel
from members of the public
My financial adviser has informed me that I have to pay Co operative Bank fees if I use my own solicitor. How efficient are the Co operative Bank conveyancing panel solicitors? I dont care which law firm I use provided that they are good and reasonably priced. Are there any Co operative Bank conveyancers you'd recommend?
Co operative Bank’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Co operative Bank will allow to act for them.
Please assist. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Co operative Bank was dated random date and we have agreed a date for me to move into the property on 6. My lawyer has advised that as she is on the Co operative Bank conveyancing panel she needs to reorder the searches as they are now out of date.
One of the many conditions to being on the Co operative Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Co operative Bank)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Co operative Bank.
Your search tool is useful but there are many lawyers listed near Leeds on the Co operative Bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Co operative Bank approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My conveyancers in Liverpool have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Co operative Bank. Is it case that being on the Co operative Bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Co operative Bank Conveyancing Panel Terms. It might be worth you contacting Co operative Bank directly.
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 Co operative Bank conveyancing panel requirements are different to Co operative Bank’s conveyancing panel requirements.
Last month we had a mortgage agreed in principle with Co operative Bank. Solicitors have been chosen? How long does it take for Co operative Bank to send the offer to our conveyancer
Some lenders take longer than others. Have Co operative Bank done the survey? Have you advised Co operative Bank as your lawyers details and checked that your lawyer is on the Co operative Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
We expect to receive a DIP from Co operative Bank this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Co operative Bank recommend a solicitor on the Co operative Bank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Co operative Bank conveyancing panel. The solicitor represents both you and the Co operative Bank through the process.