Looking for information about your firm's panel status?
Leek BS Conveyancing Panel Assistance:
What are the Leek BS 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:
The Society’s approved solicitor panel manager is Legal Marketing Services (LMS). This can be accessed via the LMS web portal www.lms.com
You must also comply with the terms and conditions of your Leek BS solicitor panel appointment.
Do you have any idea what Lenders such as Leek BS are asking for when it comes to applying to be on their approved conveyancing panel?
Although not necessarily published, lenders have varying criteria .
We do not hold specific requirements relating to the questions raised as part of the application to be on the Leek BS conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
- Details of any accreditation e.g. Lexcel and/or Conveyancing Quality Scheme
- Full career history for each solicitor including admission date to the relevant Law Society
- List of all those who fund the firm, including non-lawyers if applicable
- Whether any lender has ever made a claim against the firm’s PII cover
- Whether the firm has ever applied for accreditation and the outcome of the application
- The percentage of the firm’s business which is conveyancing purchase and remortgage
- PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic split and history of any refusals
- Number of partners per branch of the firm
- Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.
- Full complaints history for each licensed conveyancer
What type of firms do building societies allow to be on their conveyancing panel?
In the same way that there is a unique Leek BS conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement.
Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis.
My practice have never been on the Leek BS solicitor panel among other banks . My clients, who are getting a mortgage with Leek BS still want me to act for them regardless of the fact that we are not on the Leek BS panel. Am I doing anything wrong is suggesting to my client that they use a local to act for Leek BS on mortgage aspect of the transaction?
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 at liberty instruct a panel firm of your choice. Many lenders make 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 a number of bank panels including the Leek BS conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Do I disclose these these Conditions?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations.
You have to try and take an objective view as to whether the Terms relating to the Leek BS 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 moving forward on this question.
Can the BSA assist me in an appeal having not been accepted onto the Leek BS conveyancing panel?
If you have not been accepted or indeed been removed from the Leek BS conveyancing panel then the BSA will not have any part to play in influencing Leek BS in changing their mind. Please contact us here at Lexsure so that we can put you in touch with a consultant who may be able to assist. At the very least it’s worth a call to us.
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:
Find a Lawyer on the Leek BS Conveyancing Panel
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Average number of days to register title including a charge in favour of Leek BS
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Leek BS Firms
- Draft Report on Title precedent for Leek BS borrowers
- Draft Anti Money Laundering PolicyTemplate for Leek BS panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Leek BS lender panel
- Buy-to-Let help for Leek BS
- Consent-to-Let help for Leek BS
- Contractor Mortgages with Leek BS
