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.
Can my practice make a complaint to the BSA about being removed excluded suspended from the Penrith Building Society conveyancing panel?
The BSA is an association rather than a regulator and therefore do not advise on complaints against lenders. You can of course contact us to see if we can help.
As a practice on the Penrith Building Society solicitor panel who should we communicate with if I have a query about the BSA Specific Requirements ?
If you are a conveyancer and have a concern about the instructions,
you should make contact with Penrith Building Society. The BSA will not advise or comment on specific queries relating to Penrith Building Society or other lenders.
What obligations do I have,
being on the Penrith Building Society conveyancing panel, to carry out a flood search?
Penrith Building Society 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 Penrith Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check the Penrith Building Society Specific Requirements of BSA Handbook to be sure), but you are obliged to explain risks and availability to the borrower.
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.
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
As is the case with the Law Society the Council of Licensed Conveyancers has initiated dialogue 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. It is likely that that the CLC have been in touch with lenders such as Penrith Building Society since 2008 which is when lenders started being more restrictive
What information is available via COMPLETIONmonitor to assist my application to be on the Penrith Building Society conveyancing 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 (purchase and remortgage)
- Average mortgage advance
- Buy to Let transactions
- Notification 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. seen in person)
Are figures published regarding the Penrith Building Society conveyancing panel size as well as the number of conveyancing firms dismissed each year?
With mortgage companies and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Penrith Building Society conveyancing panel but for all mortgage panel listings
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
