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approved by Co Op Bank
Ready to buy a new home? Failing to check that a lawyer is on the Co Op Bank list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Co operative Bank plc Conveyancing Panel? How can my firm be reinstated onto the Co operative Bank plc Conveyancing Panel?Find an Approved Solicitor on the Co operative Bank plc Conveyancing Panel
Examples of recent questions relating to the Co operative Bank Conveyancing Panel
My property lawyer has never been on on the Co operative Bank Solicitor Panel. Is it possible for me to retain my family solicitor even though they are excluded from the Co operative Bank panel?
You have a number of options available to you here:
- Carry on with your preferred solicitors but Co operative Bank will need to instruct a lawyer on the Co operative Bank conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Co operative Bank conveyancing panel.
- Urge your lawyer to apply to join the Co operative Bank lender panel
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Co operative Bank will not agree to this. Why was Co operative Bank even consulted?
Your lawyer being on the Co operative Bank conveyancing panel is duty bound to inform Co operative Bank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Co operative Bank then they would have to discontinue acting for you and Co operative Bank.
I have been looking for conveyancing quotes online. Can I be sure that all the practices that are identified on your site are on the Co operative Bank conveyancing panel?
The law firms on our directory have assured us via an online form 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 mortgage company or a member of the public that the data about a specific firm being on the Co operative Bank conveyancing panel is incorrect.
We're in London, First timers buying with a mortgage (lender is Co operative Bank , but our lawyer is on the Co operative Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co operative Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
What are the common reasons for a lender such as Co operative Bank to withdraw a mortgage offer?
Banks and Building Societies such as Co operative Bank can withdraw their mortgage offer although this is unusual. If Co operative Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
- Many mortgage offers have an expiry date. Your lawyer should check this. Co operative Bank may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Where the lender has to take account a recent change in taxation
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
For 5 years I had a mortgage with Co operative Bank. My grandfather retired last week and wants to pay off the mortgage left on the property. After Co operative Bank is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Co operative Bank conveyancing panel? I do not intend to live at the property once the Co operative Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Co operative Bank panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
Can I register a complaint to Co operative Bank about the lawyers being on the Co operative Bank conveyancing panel?
There is little point in complaining directly to Co operative Bank. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
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Transfer of Equity for Co operative BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors