Vernon BS Conveyancing Panel Information

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

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How can my firm be reinstated onto the Vernon BS Conveyancing Panel Building Society?

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Vernon BS Conveyancing Panel Information:

What are the Vernon BS 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:

Solicitors and licensed conveyancers acting for the Society must have the appropriate professional qualifications, professional indemnity insurance, adequate cover for absence, and properly constituted commercial premises with adequate provision for the secure storage of deeds.

The Society requires the following:

(i) All Solicitor firms must have a minimum of 2 SRA approved managers

(ii) All Licenced Conveyancer firms must have a minimum of 2 Licenced Conveyancers

You must also comply with the terms and conditions of your Vernon BS solicitor panel appointment.

Do Vernon BS or the Building Society Association run professional training Courses for the Vernon BS approved solicitor panel in much the same way that the Law Society run cases for CQS accedited practices?

No such training is arranged by the BSA however they do host numerous useful legal related conferences which are attended by firms on the Vernon BS conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Vernon BS’s requirements . Law firms on the Vernon BS conveyancing panel will be invited . Information about the webinar will be made available as part of the LENDERmonitor Alerts .

Being a lawyer on the Vernon BS solicitor panel who do I contact should we have a question conerning the instructions ?

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

Does the fact that my firm subscribes to Alerts via this site help in my application to join the Vernon BS solicitor panel?

The requirements to join the Vernon BS conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Am I obliged, being on the Vernon BS conveyancing panel, to carry out a Chancel Search?

Vernon BS make no specific obligation to carry out any of the searches listed. The BSA Mortgage Instructions simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Vernon BS are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check the Vernon BS Specific Requirements of BSA Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one.

What reports are available via COMPLETIONmonitor to assist my appeal to be reinstated on the Vernon BS solicitor panel?

There are many reports available but examples include:

Average time frame to register charges at the Land Registry
Average time frame to send deeds to the lender (calculated from completion date or title registration)
Number of conveyancing cases by lender
The percentage of the firm’s business which is conveyancing (broken down into sale)
Average mortgage advance
Buy to Let transactions
Disclosure to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
Evidence of undertaking logs
Current and historic missed priority dates
Analysis as to the nature of clients (e.g. existing client )

I rarely receive a copy of a valuation from a lender these days. Does the extent of my Vernon BS conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Vernon BS as the Mortgagee?

There are various requirements are to be followed if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an address that is no longer valid.

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 Vernon BS Conveyancing Panel Building Society

Average number of days to register title including a charge in favour of Vernon BS

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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