Looking for information about your firm's panel status?
West Bromwich Building Society Conveyancing Panel Assistance:
What are the West Bromwich 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:
Generally, Firms must have at least two Partners however all Firms wishing to be admitted to the conveyancing panel should contact Mortgage Deeds Administration Department in the first instance - See E.33 below for contact details.
You must also comply with the terms and conditions of your West Bromwich Building Society solicitor panel appointment.
Is it probable that West Bromwich Building Society will instruct another solicitor on the West Bromwich Building Society lender panel for a further advance during the lifetime of a mortgage ?
The Building Society Association Mortgage Instructions relevant to a solicitor on the West Bromwich Building Society conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the West Bromwich Building Society conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction must be adhered to .
What information is available via COMPLETIONmonitor to assist my application to be on the West Bromwich 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
- 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. new client )
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the West Bromwich Building Society conveyancing panel?
In order to be on the West Bromwich Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily West Bromwich Building Society) are as follows:
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
- To forward the title deeds and documents to another conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
- To quote on all communications with us relating to registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
My firm is on the West Bromwich Building Society conveyancing panel. I am
dealing with West Bromwich Building Society mortgage on a purchase. My
borrower client is asking not to disclose an issue to West Bromwich Building Society. What do I do in this conflict situation?
When a solicitor is acting for both West Bromwich 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 West Bromwich Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform West Bromwich 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 West Bromwich Building Society conveyancing panel status.
Are figures published disclosing the West Bromwich Building Society conveyancing panel size as well as the number of conveyancing firms removed from their panel each year?
With lenders and solicitors working so closely together 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 West Bromwich Building Society conveyancing panel but for all lender 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:
I am a sole practitioner firm on the West Bromwich Building Society conveyancing panel. Do you have ideas as to how we can market our practice as carrying out conveyancing in Hendon on the West Bromwich Building Society panel?
13 consumers search for a property lawyer on the West Bromwich Building Society panel every 4 weeks in Hendon. The lenderpanel directory service team who will show you how your firm can be listed by those searching for conveyancing in Hendon.
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Average number of days to register title including a charge in favour of West Bromwich Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2024 | [no data] |
| 2023 | 52.3 |
| 2022 | [no data] |
| 2021 | 44.7 |
| 2020 | [no data] |
| 2019 | 28.2 |
* Data aggregated from sources including COMPLETIONmonitor
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- CQS policy templates and procedures for accredited West Bromwich Building Society Firms
- Draft Report on Title precedent for West Bromwich Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for West Bromwich Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the West Bromwich Building Society lender panel
- Buy-to-Let help for West Bromwich Building Society
- Consent-to-Let help for West Bromwich Building Society
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