Co operative Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This system optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on Co operative Bank’s changes. Even though using this technology is not a condition for being on the Co operative Bank panel, demonstrating you can remain up to date with Co operative Bank’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Co operative Bank

Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Co operative Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2008, Co operative Bank has made 598 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 4.6 days. In total, 72% of the sections of P2 of the UK Finance Lenders’ Handbook for Co operative Bank have been changed since 15/12/2008.

To find out more about lender panel compliance,

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FAQs : The Co operative Bank Solicitor Panel from members of the public

My partner and I are novices when it comes to buying a property. Within the 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Co operative Bank have this morning contacted us to advise us that they have now hit a problem as our solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.

In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitors should contact Co operative Bank and see if they can apply for membership of the Co operative Bank conveyancing panel, but if that is not viable Co operative Bank will instruct their own solicitors to act. You don't have to instruct a firm on the Co operative Bank conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.

Our conveyancer has uncovered a legal deficiency with the lease for the property we are purchasing. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the Co operative Bank conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Co operative Bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Co operative Bank are the client. A precondition 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Co operative Bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am looking to buy a flat and require a conveyancing solicitor in Liverpool who is on the Co operative Bank conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co operative Bank . We don’t recommend any particular firm.
I am considering applying for a Co operative Bank mortgage for purchase of a newly converted (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Co operative Bank?
There is nothing to stop you using your solicitor but Co operative Bank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Co operative Bank do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We expect to receive a DIP from Co operative Bank this week so we know how much we could potentially offer 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 find our own lawyer
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.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Co operative Bank. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Co operative Bank you will need to appoint a solicitor on the Co operative Bank conveyancing panel.