Dudley Building Society Conveyancing Panel Information

As is the case with the Law Society the CLC has initiated dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Dudley Building Society in the recent past.

There are many reports available, five of which are as follows:

• Average time frame to register charges at the Land Registry
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
• Average mortgage advance
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Dudley Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Dudley Building Society we suggest that you call Dudley Building Society to check the position.

When a solicitor is acting for both Dudley 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 the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Dudley Building Society and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Dudley Building Society 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 Dudley Building Society conveyancing panel status.

It would be advisable to supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your application but gives the CQS team a complete picture of what has occured.

You should get in touch with Dudley Building Society to obtain standard documents. The CML Handbook has a specific question for banks to cite who to contact to obtain standard documents. Dudley Building Society in their Part 2’s state: You will need to quote your Dudley Building Society solicitors panel number.