Co operative Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This system is the only way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Co operative Bank’s changes. Notwithstanding that utilising the tool is not a prerequisite for Co operative Bank , demonstrating you can remain up to date with Co operative Bank’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for some firms, leads to 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.

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Recent Changes Include

# Date Assoc. Changes Related To
10.7 04/04/2016 CML
14.2.1 04/04/2016 CML
16.3.4 04/04/2016 CML
16.5.3d 04/04/2016 CML
17.1.1 04/04/2016 CML
5.5.4 04/04/2016 CML Restrictive Covenant Indemnity Insurance
6.1.3 04/04/2016 CML
6.4.5 04/04/2016 CML
7.4 04/04/2016 CML
5.5.1b 01/12/2014 CML

Last update 19/07/2019

Examples of recent questions relating to the Co operative Bank Solicitor Panel from members of the public

Much to my surprise I have been told by my mortgage adviser that my lawyer is not on the Co operative Bank Solicitor panel. How can I be sure that this is correct?
The best course of action for you to take is to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the the approved Co operative Bank solicitor panel.
Can you clarify something for me?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Co operative Bank was date stamped 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 redo the searches as they are no longer valid.
One of the many conditions to being on the Co operative Bank approved panel is to comply with the CML Handbook Part 2 obligations (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.
I am Googling for conveyancing quotes online. Can I be assured that all the practices that are listed on your site are on the Co operative Bank conveyancing panel?
The law firms on our directory have advised us that they are on the Co operative Bank panel and agreed to advise us to take down their listing in the event of removal off of the Co operative Bank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Co operative Bank conveyancing panel is not accurate.
My grandfather passed away last year and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Co operative Bank , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Co operative Bank will insist on your using a conveyancer on the Co operative Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Co operative Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Co operative Bank mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the Co operative Bank conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I'm in the process of looking at apartments and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I I am planning to take a mortgage with Co operative Bank
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Co operative Bank , make sure you remember to check that your lawyer is on the Co operative Bank conveyancing panel.
After much negotiation I have agreed a price on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 225. Soon after the conveyancers contacted me to say 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.