The Chorley & District Building Society Conveyancing Panel Information

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:

You must also comply with the terms and conditions of your The Chorley & District Building Society solicitor panel appointment.

The BSA, as is the case with the CML do not hold duplicates of Specific Requirements. The BSA advise that you contact The Chorley & District Building Society directly.

This not something that the BSA would traditionally get involved with although they do host numerous general conveyancing related conferences which are attended by firms on the The Chorley & District Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the coming months including a webinar on The Chorley & District Building Society’s obligations . Solicitors on the The Chorley & District Building Society conveyancing panel are welcome . Information about the webinar will be made available as part of the LENDERmonitor Alerts .

The criteria to join the The Chorley & District Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

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.

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.

In the same way that there is a unique The Chorley & District 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.

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:

• Santander Conveyancing Panel
• National Westminster Bank Conveyancing Panel
• Royal Bank of Scotland Conveyancing Panel
• HSBC Conveyancing Panel
• Lloyds Conveyancing Panel