Stafford Railway Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Stafford Railway Building Society and to assist in remaining on the Stafford Railway Building Society Approved Conveyancing Solicitors Panel.

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Stafford Railway Building Society Solicitor Panel Assistance:

What are the Stafford Railway 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 Stafford Railway Building Society solicitor panel appointment.

Do Stafford Railway Building Society or the BSA run professional training Courses for the Stafford Railway Building Society approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?

This not something that the BSA would traditionally get involved with although they do arrange numerous useful legal related conferences which are attended by firms on the Stafford Railway Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Stafford Railway Building Society’s obligations . Practitioners on the Stafford Railway Building Society conveyancing panel are welcome . Information about the webinar will be made available as part of the LENDERmonitor change Notifications .

Being a firm on the Stafford Railway Building Society conveyancing panel who do I communicate with should we have a question conerning the BSA conveyancing instructions ?

If you are a property lawyer and have a concern about the instructions, you should make contact with Stafford Railway Building Society. The BSA will not advise or comment on specific queries relating to Stafford Railway Building Society or other lenders.

Will the fact that my practice subscribes to LENDERmonitor Alerts assist in my application to join the Stafford Railway Building Society conveyancing panel?

The requirements to join the Stafford Railway Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Given my firm’s membership on the Stafford Railway Building Society conveyancing panel for what period of time am I expected to retain the original conveyancing file?

The BSA Mortgage Instructions state that the firm must keep the file for a minimum six years from the date of the mortgage. Data imaging is normally suitable compliance with this requirement. As a firm on the Stafford Railway Building Society conveyancing panel you must allow Stafford Railway Building Society to conduct such reasonable audit of your information security measures as Stafford Railway Building Society or their agents may to ensure your compliance with your file retention obligations.

A recent SRA survey reveals that three quarters of solicitors have been removed or threatened with removal from a lender conveyancing panel. Stafford Railway Building Society and other building societies have restricted their panel over the years. Why?

The feeling from lenders generally (we can not speak for Stafford Railway Building Society specifically), is that for too long solicitors have concentrated on their duty of care to their purchasing client, and have paid scant attention to the duty they owe to the lender, whom they conveniently forget is also their client.

Looking from the lenders’ perspective, it has to be said that there are pressures to encourage smaller panels. The Financial Services Authority regards the open panel system as a major contributor to mortgage fraud and negligence cases, and has been leaning on lenders to move to proactive panel management, which is more expensive the larger the panel. Hence it is becoming more common for lenders to charge fees, and/or require extensive form-filling, from would-be panel members

Stafford Railway Building Society and other BSA lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced.

The firm that I work for is on the Stafford Railway Building Society conveyancing panel. I am dealing with Stafford Railway Building Society mortgage on a purchase. My borrower client is asking not to disclose an issue to Stafford Railway Building Society. What do I do in this conflict situation?

When a solicitor is acting for both Stafford Railway 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 your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Stafford Railway Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Stafford Railway Building Society of 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 Stafford Railway Building Society conveyancing panel status.

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 Stafford Railway Building Society Approved Conveyancing Solicitors Panel

Average number of days to register title including a charge in favour of Stafford Railway 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

Find solicitors on the Stafford Railway Building Society panel near you:

Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors