Beverley Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Beverley Building Society and to assist in remaining on the Beverley Building Society Solicitor Panel.

Beverley Building Society Conveyancing Panel Information:

What are the Beverley Building Society conveyancing panel criteria?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements. The Special Requirements state:

No conveyancing panel, but must contact Graham Carter (see A.10)

You must also comply with the terms and conditions of your Beverley Building Society solicitor panel appointment.

Are Beverley Building Society Conveyancing panel solicitors exposed to the possibility of the society altering or retracting the mortgage offer?
Beverley Building Society ‘s answer to this question can be found at section B.3 of their BSA specific requirements which states:

• If the term of the mortgage offer has expired

• If the financial circumstances of the borrower have changed to the detriment and the society has been notified

• If the borrower informs the society of change in the loan amount agreed

• If the borrower informs the society of a change in security address

• If any of the special conditions of the mortgage offer cannot be met

Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Beverley Building Society conveyancing panel?
In order to be on the Beverley Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Beverley Building Society) are as follows:
  • To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
  • You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
  • To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
  • To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
  • That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
My practice have never been on the Beverley Building Society conveyancing panel as well other lenders . My clients, who have applied for a mortgage with Beverley Building Society wish use my firms conveyancing services even though I am not on the Beverley Building Society panel. Am I doing anything wrong is suggesting to my client that they use a local to represent Beverley Building Society on mortgage aspect of the conveyancing?
You need to be careful here as what you are intending may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on numerous lender panels including the Beverley Building Society conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Should I reference these Terms?
The key here is the caveat ‘more onerous’.

You have to try and take an objective view as to whether the Terms relating to the Beverley Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

My firm is on the Beverley Building Society conveyancing panel. I am dealing with Beverley Building Society mortgage on a purchase. My borrower client is asking not to disclose an issue to Beverley Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Beverley Building Society and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent.

In your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Beverley Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Beverley Building Society of the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Beverley Building Society conveyancing panel status.

I rarely receive a copy of a valuation from a lender these days. Does the extent of my Beverley Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Beverley Building Society as the lender?
There are various requirements are to be followed if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an out of date postal address or DX details.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of frequency of questions. The most popular lender panels in terms of questions are as follows:

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Average number of days to register title including a charge in favour of Beverley Building Society
This information relates to purchase only and not remortgages.
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* Data aggregated from sources including COMPLETIONmonitor