State Bank of India UK Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This system optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on State Bank of India UK’s changes. Even though using the software is not a prerequisite for State Bank of India UK , demonstrating you can stay up to date with State Bank of India UK’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by State Bank of India UK

Lenders often change their requirements. The UK Finance Lenders’ Handbook requirements from State Bank of India UK 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, State Bank of India UK has made 20 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 136.5 days. In total, 10% of the sections of P2 of the UK Finance Lenders’ Handbook for State Bank of India UK have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
8.1 14/02/2018 CML
5.5.1a 01/12/2014 CML
6.14.1d 01/12/2014 CML
6.14.2 01/12/2014 CML
6.14.3 01/12/2014 CML
3.1.3 01/12/2014 CML
3.1.5 01/12/2014 CML
16.3.4 08/08/2014 CML
5.4.4 25/11/2013 CML
5.10.1 25/11/2013 CML

Last update 30/03/2020

State Bank of India UK Conveyancing Panel Example Support Desk Enquires from members of the public

I appointed a law firm to work on my remortgage 5 weeks ago having applied for a mortgage with State Bank of India UK. The solicitors confirmed to me that they are on State Bank of India UK conveyancing panel and advised me their panel reference. State Bank of India UK then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the approved panel for State Bank of India UK?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the State Bank of India UK as to how long they think it will take to get the firm to get back on the panel.
I am purchasing a newly built duplex and my solicitor is telling me that she is duty bound to disclose incentives from the seller as her firm is on the State Bank of India UK conveyancing panel. The Estate Agents are hassling me to exchange contracts and I dont want to delay the conveyancing. Can I insist on an exchange regardless of what my lawyer says about being on the State Bank of India UK panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the State Bank of India UK approved panel is to comply with the CML Handbook requirements (last updated for this lender on State Bank of India UK). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the State Bank of India UK solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
Please explain the implications if my solicitor is suspended from the State Bank of India UK Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with State Bank of India UK. 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 State Bank of India UK you will need to appoint a solicitor on the State Bank of India UK conveyancing panel.
The for formalities of my remortgage has taken place with a mortgage from State Bank of India UK. Conveyancing was satisfactory but I feel I should register my dissatisfaction about State Bank of India UK. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the State Bank of India UK branches or the Customer Services Team at State Bank of India UK head office. Ordinarily complaints to State Bank of India UK are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service with full details of your complaint.
I have instructed a lawyer having made sure that they are on the State Bank of India UK conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the State Bank of India UK conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
State Bank of India UK will need an independent valuation of the property. Your lawyer will not arrange this. Usually State Bank of India UK will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with State Bank of India UK you could contact your them to see if they have a list of approved surveyors.