Co operative Bank Conveyancing Panel Compliance

Co operative Bank Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This software optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Co operative Bank’s changes. Notwithstanding that utilising COMPLETIONmonitor is not a condition for acceptance on the Co operative Bank panel, demonstrating you can stay up to date with Co operative Bank’s Handbook requirements is a helpful support to your panel application and, just as importantly, protect your firm’s panel standing.

The software generates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in a PII saving.

Book a Co operative Bank Panel Compliance Demo

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,

Book a Personalised Demo

Recent Changes Include

#	Date	Assoc.	Changes Related To
10.3	17/07/2016	CML	Mortgage Advance and Certificate of Title What are the standard deductions made by Co operative Bank plc from the mortgage advance?
9.1	17/07/2016	CML	Defective Title Insurance Co operative Bank plc clarification to approved lawyers clarification as to whether Co operative Bank plc need to be sent the indemnity insurance policy Adverse Possession Indemnity Insurance Possessory Title Indemnity Insurance Missing Deeds Indemnity Insurance Defective Title Indemnity Insurance
14.2.1	04/04/2016	CML	Post Completion Conveyancing Where should approved lawyersfor Co operative Bank plc send the title deeds and documents following completion?
16.5.3a	04/04/2016	CML	Deed of Variation Co operative Bank plc requirements for conveyancing panel lawyers as to whether Co operative Bank plc need to be sent a Deed of Variation
5.5.4	04/04/2016	CML	Planning Permission and Building Regulations : Restrictions Contact details at Co operative Bank plc for approved lawyers where the property is subject to restrictions which may affect its value or marketability Restrictive Covenant Indemnity Insurance
6.12.1	04/04/2016	CML	Pre-emption Rights, Options and Pre-emption Rights Contact details at Co operative Bank plc for approved lawyers to used where Co operative Bank plc needs to be notified where property is affected by pre-emption rights, resale restrictions, options etc .
6.1.3	04/04/2016	CML	Mortgage offer not taken up Contact details at Co operative Bank plc for conveyancing panel lawyers where for reporting purposes if borrower is not taking up the mortgage offer
6.2.1	04/04/2016	CML	Property Description Contact details at Co operative Bank plc for conveyancing panel lawyers to used where there are any discrepancies in property's description.
5.20.1	19/07/2012	CML	Solar Panels Co operative Bank plc requirements for conveyancing panel/approved lawyers as to whether Co operative Bank plc need to be notified where the lease does not meet the CML minimum requirements for leases of roof space for solar PV panels
6.6.3	11/06/2012	CML	Buy to Let Conveyancing Co operative Bank plc panel lawyers requirements concerning receiving counterpart/certified copy tenancy agreements

Last update 06/11/2018

Co operative Bank Conveyancing Panel Sample Enquires to our Call Center from members of the public

I was advised recently by my mortgage adviser that my property lawyer is not on the Co operative Bank Conveyancing panel. What can I do to be sure that this is correct?

The first thing you need to do is to contact your conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Co operative Bank.

My conveyancer has discovered a discrepancy when comparing the surveyor’s assumptions in Co operative Bank’s home valuation report and what is in the title deeds. My lawyer says that as he is on the Co operative Bank conveyancing panel he needs to check that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s approach appropriate?

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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.

Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Co operative Bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Bristol so that I can attend their offices if required.

As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol .

I am selling my house. Does my solicitor have to be on the Co operative Bank conveyancing panel in order to deal with redeeming my mortgage?

Ordinarily, even if your lawyer is not on the Co operative Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.

Can you point me to a directory of Co operative Bank panel conveyancers on the Council of Mortgage Lender’s Website?

No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.

The for formalities of my purchase has taken place with a mortgage from Co operative Bank. Conveyancing was satisfactory but I feel I should register my dissatisfaction about Co operative Bank. How do I make a complaint?

Most banks and building societies have complaints procedures. Your first point of contact should be one of the Co operative Bank branches or the Customer Care Department at Co operative Bank head office. In most cases complaints to Co operative Bank are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service with full details of your complaint.

I recently had an offer accepted on an apartment. My financial adviser suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Co operative Bank conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Co operative Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.