Looking for information about your firm's panel status?
Penrith Building Society Conveyancing Panel Assistance:
What are the Penrith 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.
You must also comply with the terms and conditions of your Penrith Building Society solicitor panel appointment.
Are Penrith Building Society Conveyancing panel lawyers exposed to the possibility of the society amending or withdrawing the mortgage?
Penrith Building Society addresses this at section B.3 of their BSA Mortgage Instructions which states:
Not taken up within six months
Non compliance with any conditions
Non disclosure of any relevant information
Any information discovered that may be fraudulent or misleading
Do Penrith Building Society or the BSA run training seminars for the Penrith Building Society approved conveyancing panel in much the same way that the Law Society run cases for CQS accedited practices?
The BSA do not involve themselves in training however they do provided numerous useful conveyancing related conferences which are attended by firms on the Penrith Building Society conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Penrith Building Society’s requirements . Law firms on the Penrith Building Society conveyancing panel will be invited . Further details will be communicated as part of the LENDERmonitor change Notifications .
What type of firms do building societies accept on their approved solicitor panel?
In the same way that there is a unique Penrith 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.
I have been a qualified solicitor for over 30 years with a clean claims history and have been refused acceptance on the Penrith Building Society conveyancing panel with no explanation. Am I not entitled to know why?
Participation on the lender's panel of conveyancers is at the absolute
discretion of the the lender. The days of open panels are now long
gone. Many lenders reserve the right to accept or reject any
application without giving any reason. You should check your original
application to join the Penrith Building Society conveyancing panel
to see if you are entitled to a reason.
We had our Penrith Building Society panel membership suspended but we have not yet been given a reason as to why . I am completing a CQS renewal questionnaire what information do I need to put forward?
In the circumstances please explain on the application what steps you have taken to discover the reasons behind cancellation of your Penrith Building Society panel membership . In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?
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* |
|---|---|
| 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 Penrith Building Society Firms
- Draft Report on Title precedent for Penrith Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Penrith Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Penrith Building Society lender panel
- Buy-to-Let help for Penrith Building Society
- Consent-to-Let help for Penrith Building Society
- Contractor Mortgages with Penrith Building Society
