Looking for information about your firm's panel status?
Penrith Building Society Conveyancing Panel Information:
What are the Penrith Building Society conveyancing panel arrangements?
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.
You must also comply with the terms and conditions of your Penrith Building Society solicitor panel appointment.
Can my firm submit a complaint to the BSA about being removed excluded suspended from the Penrith Building Society conveyancing panel?
The BSA is not a regulator and therefore cannot advise on grievances against lenders. You can of course contact Lexsure to see if we can assist.
Is it conceivable that Penrith Building Society will appoint another solicitor on the Penrith Building Society conveyancing panel for a further advance during the mortgage term ?
The BSA Mortgage Instructions relevant to a solicitor on the Penrith Building Society conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the Penrith Building Society conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction must be followed .
Why did the Building Society Association introduced differing instructions from the CML?
The BSA introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Penrith Building Society conveyancing panel?
In order to be on the Penrith 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 Penrith 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.
- 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.
- To quote on all communications with us relating to deeds issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- To forward the title deeds and documents to another solicitor within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
I have read a number of legal articles recently about firms being sued for non-compliance with BSA Mortgage Instructions. I am on the Penrith Building Society conveyancing panel. Can you tell me how many Specific Requirement changes took place by Penrith Building Society during 2013?
During this period 5 sections of the BSA Mortgage Instructions were changed by Penrith Building Society. Some changes are more important than others but as a firm on the Penrith Building Society conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: BSA requirements are not guidelines; they are the lender client’s instructions.
Can the BSA assist me in an appeal having not been accepted onto the Penrith Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the Penrith Building Society conveyancing panel then the BSA will not have any part to play in influencing Penrith 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.
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 Penrith Building Society Approved Conveyancing Solicitors
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Average number of days to register title including a charge in favour of Penrith Building Society
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
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