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 does my firm apply to be 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 Solicitor 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.

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

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

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

The feeling from lenders generally (we can not speak for Vernon BS 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

Vernon BS 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.

What is the CLC doing to ensure that licensed conveyancers remain on lender conveyancing panels?

The CLC has entered discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Vernon BS as well as the BSA

My firm has just been advised that it’s Vernon BS panel membership suspended but we have not yet been given a reason as to why . I am completing a CQS application questionnaire what details should I disclose?

In the circumstances please explain on the form what steps you have taken to find out the reasons behind cancellation of your Vernon BS panel status . In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender putting you on notice?

Can the BSA assist me in an appeal having not been accepted onto the Vernon BS conveyancing panel?

If you have not been accepted or indeed been removed from the Vernon BS conveyancing panel then the BSA will not have any part to play in influencing Vernon BS 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.

The Council of Mortgage Lenders Handbook includes instructions for a property with a solar panel. Vernon BS do not set out obligations via the BSA Mortgage Instructions. Is this right?

The BSA Mortgage Instructions don't specifically deal with Solar Panels but it would be prudent as approved solicitors for Vernon BS to raise the issue with them (as you would if the UK Finance Lenders’ Handbook applied). In any event you need to raise the appropriate questions for your buyer client.

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*
2026	[no data]
2025	[no data]
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]

* Data aggregated from sources including COMPLETIONmonitor

Find solicitors on the Vernon BS panel near you:

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