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Ready to buy a new home? Failing to check that a lawyer is on the secureTrustBank list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?Is my firm on the Secure Trust Bank PLC Conveyancing Panel? How does my firm apply to be on the Secure Trust Bank PLC Conveyancing Panel? How can my firm be reinstated onto the Secure Trust Bank PLC Conveyancing Panel?
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Secure Trust Bank Solicitor Panel Recently Asked Questions
Is there a reason why all solicitors are not on the Secure Trust Bank Solicitor panel?
Secure Trust Bank and other banks tend to restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Secure Trust Bank have no responsibility for the quality of advice provided by any member of Secure Trust Bank Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
We are approaching an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Secure Trust Bank. I am advised that, being on the Secure Trust Bank conveyancing panel and acting on their behalf he must inform Secure Trust Bank if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with Secure Trust Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Secure Trust Bank if you agree, failing which, your lawyer must cease to continue acting.
I am planning to acquire a flat and require a conveyancing solicitor in Birmingham who is on the Secure Trust Bank conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Secure Trust Bank . We don’t recommend any particular firm.
The firm that just started acting on my house acquisition in Manchester has suddenly shut down. They were on acting for me because I had to have a solicitor on the Secure Trust Bank conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What are my options?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Secure Trust Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Secure Trust Bank conveyancing panel requirements are different to Secure Trust Bank’s conveyancing panel criteria.
My wife and I have arranged a further advance on our mortgage from Secure Trust Bank as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Secure Trust Bank conveyancing panel to deal with the paperwork?
Secure Trust Bank would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Secure Trust Bank list
I am due to exchange contracts on my house. 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, Secure Trust Bank are being difficult. The solicitor who is on the Secure Trust Bank conveyancing panel is saying indemnity insurance will be fine but Secure Trust Bank are requiring a building regulation certificate. Why do Secure Trust Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Secure Trust Bank have referred the matter to their valuer. The reason why Secure Trust 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.