Looking for information about your firm's panel status?
Loughborough Building Society Conveyancing Panel Assistance:
What are the Loughborough 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:
The Society uses Legal Marketing Services Ltd (LMS) for its panel arrangements who will require the following information:
1) Up to date practising certificates for a minimum of 2 regulated principals;
2) Copy of professional indemnity insurance cover for a minimum of £2m(£3m if the firm is an LLP or company).
Any panel application is subject to individual assessment and approval.
Please contact the Society through the LMS SecureLink portal on the Conveyancer Zone. Alternatively you can contact the Society by telephoning 01509 631966 or emailing MortgageAdmin@theloughborough.co.uk
You must also comply with the terms and conditions of your Loughborough Building Society solicitor panel appointment.
Does the fact that my practice subscribes to Alerts via this site assist in my application to join the Loughborough Building Society solicitor panel?
The requirements to join the Loughborough Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel ?
The fact of the matter is that estate agents are suffering if their clients start out on the buying process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
Who do building societies include on their conveyancing panel?
In the same way that there is a unique Loughborough Building Society 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 firm has just been advised that it’s Loughborough Building Society panel membership revoked but we have not yet been given a reason as to why . I am completing a CQS renewal form what details do I need to disclose?
In this situation please explain on the application what action you have taken to find out the reasons behind cancellation of your Loughborough Building Society panel status . In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?
Can the BSA assist me in an appeal having not been accepted onto the Loughborough Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the Loughborough Building Society conveyancing panel then the BSA will not have any part to play in influencing Loughborough Building Society 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.
The CML Handbook includes instructions for a roof with a solar panel. Loughborough Building Society do not seem to have any similar obligations via the BSA Mortgage Instructions. Am I missing something?
The BSA Mortgage Instructions don't
specifically deal with Solar Panels but it would be prudent as
approved solicitors for Loughborough Building Society to raise the issue
with them (as you would if the UK Finance Lenders’ Handbook applied). In any event you
need to raise the appropriate questions for your buyer client.
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 Loughborough Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Loughborough Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Loughborough Building Society Firms
- Draft Report on Title precedent for Loughborough Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Loughborough Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Loughborough Building Society lender panel
- Buy-to-Let help for Loughborough Building Society
- Consent-to-Let help for Loughborough Building Society
- Contractor Mortgages with Loughborough Building Society
