Tandem Bank Conveyancing Panel Sample Enquires to our Call Center from members of the public
I am in the process of selling my maisonette and the estate agent has just e-mailed to say that the purchasers are switching property lawyer. The excuse is that Tandem Bank will only engage with property lawyers on their approved list. On what basis would a leading lender only work with certain law firms?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our solicitor has uncovered a legal deficiency with the lease for the flat we are buying. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the Tandem Bank conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Tandem Bank?
Just because you have a mortgage offer from Tandem Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Tandem Bank are the client. The appropriate lender requirements have to be complied with by the Tandem Bank conveyancing panel who has to balance acting for you and Tandem Bank
Do I need to visit the offices of the Tandem Bank conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Manchester
so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Tandem Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My conveyancers in Leeds have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Tandem Bank. Is it case that being on the Tandem Bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender 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 Tandem Bank Conveyancing Panel Terms. It might be worth you contacting Tandem Bank directly.
I have today made my last payment due on mortgage with Tandem Bank. I assume I don't need a solicitor on the Tandem Bank panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Tandem Bank mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Tandem Bank mortgage from the register. Tandem Bank,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Tandem Bank has sent the Land Registry the discharge electronically, and
the Tandem Bank has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Tandem Bank mortgage has been paid off.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Tandem Bank on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Tandem Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Tandem Bank panel she or he must comply with the CML Handbook requirements for Tandem Bank. Unless your lawyer obtains specific confirmation in writing that Tandem Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Tandem Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I am selling my apartment. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Tandem Bank are being problematic. The solicitor who is on the Tandem Bank conveyancing panel is saying indemnity insurance will be fine but Tandem Bank are requiring a building regulation certificate. Why do Tandem Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Tandem Bank have referred the matter to their valuer. The reason why Tandem Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.