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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.
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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
Common questions asked concerning the Co operative Bank Conveyancing Panel
A conveyancer my husband and I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my lender is because of their difficult processes! Will I regret using Co operative Bank? Any comments will be appreciated
Co operative Bank conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Co operative Bank conveyancing panel. If they are not, this does add further risk of delay as Co operative Bank will appoint their own solicitors to look after their interest.
Expecting to move into my new home next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Co operative Bank. What risks do Co operative Bank expect the insurance to cover?
All property lawyers on the Co operative Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Co operative Bank’s Part 2 requirements of the CML Handbook (last updated on Co operative Bank). Being on the Co operative Bank conveyancing panel your lawyer is expect to follow these requirements.
Your search tool is useful but there are many lawyers listed near London on the Co operative Bank conveyancing panel. Can you recommend a specific firm on the Co operative Bank approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am selling my house. Does my solicitor have to be on the Co operative Bank conveyancing panel in order to deal with paying off 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.
Is it common for Co operative Bank to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Co operative Bank can revoke their mortgage offer although this rarely happens. should Co operative Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- Where information comes to Co operative Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- If the borrower informs Co operative Bank of a change in security address
- 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 is on notice of a restriction or a right of pre-emption which is not at market value
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
I have agreed a price on a apartment I spoke to a lawyer previously used by my brother and he suggested instructing a solicitor approved by Co operative Bank. The estate agent recommended two local firms so I asked Co operative Bank if the 2 suggested solicitors are approved, which they are not. Co operative Bank suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Co operative Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Co operative Bank for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Co operative Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Co operative Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Co operative Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
Completion of my purchase has taken place with a mortgage from Co operative Bank. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Co operative Bank. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the Co operative Bank branches or the Customer Services Department at Co operative Bank head office. Ordinarily complaints to Co operative Bank are sorted out very quickly. 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.
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