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Barnsley Building Society Solicitor Panel: Recently Asked Questions
Is it conceivable that
Barnsley Building Society
will appoint an alternative lawyer on the
Barnsley Building Society
conveyancing panel for a further advance during the lifetime of a mortgage?
Paragraph 16.2.1 of Part 1 of the Handbook applicable to a solicitor on the
Barnsley Building Society
conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.
A recent SRA survey reveals that 76% of
solicitors have been removed from a lender conveyancing panel. Barnsley Building Society and other lenders have restricted their panel over
the years. Why?
In operating open conveyancing panels, lenders such as Barnsley Building Society
face a number of fraud and negligence risks. While
there is no authoritative source of data on lender exposure to
solicitor–led mortgage fraud, anecdotal evidence from lenders
indicates exposure on individual cases are often in the millions of
pounds. The National Fraud Authority estimates that £1bn per year is
lost in mortgage -related frauds in total, which is seen as a
conservative estimate.
These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.
Barnsley Building Society and other 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. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.
I have read a number of legal articles recently about firms being sued for non-compliance with CML PII obligations . I am on the
Barnsley Building Society conveyancing panel can you tell me how Part 2 changes took place by
Barnsley Building Society during 2013?
During 2013, 273 sections of the UK Finance Lenders’ Handbook P2 were changed by
Barnsley Building Society. Some changes are more important than others but as a firm on the
Barnsley Building Society conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: CML requirements are not guidelines; they are the lender client’s instructions.
When in comes to leasehold due diligence do
Barnsley Building Society panel solicitors need to consider if there is an absentee landlord?
On the basis that your practice in is on the
Barnsley Building Society conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If
Barnsley Building Society are to lend, they may require indemnity insurance. In any event,you will need to check
Barnsley Building Society’s specific requirements. Notwithstanding whether
Barnsley Building Society will lend in such circumstances you still need to advise the borrower (unless you are acting for
Barnsley Building Society alone) as to the risks of buying a property with an insolvent or absentee freeholder.
My post-completion clerk has left my firm unexpectedly.
I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to
Barnsley Building Society once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Barnsley Building Society?
Barnsley Building Society will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the
Barnsley Building Society conveyancing panel.
We had our Barnsley Building Society panel membership revoked but we have not yet been given an explanation yet.
I am completing a CQS application form what details must I report?
In the circumstances please explain on the application what action you have taken to find out the reasons behind cancellation of your
Barnsley Building Society panel membership.
In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?
Our practice is on the
Barnsley Building Society
conveyancing panel and due to complete a purchase shortly. I dont have a Legal Charge for the client to sign.
Who do I contact at Barnsley Building Society to get a duplicate Deed?
You should get in touch with Barnsley Building Society
to obtain standard documents. The CML Handbook contains an express question for banks to set out who to contact to obtain standard documents.
Barnsley Building Society in their Part 2’s state:
It helps to quote the firm’s Barnsley Building Society conveyancing panel reference.
Find a Lawyer on the Barnsley Building Society Solicitor Panel
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Average number of days to register title including a charge in favour of Barnsley Building Society
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
Other related topics:
- CQS policy templates and procedures for accredited Barnsley Building Society Firms
- Draft Report on Title precedent for Barnsley Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Barnsley Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Barnsley Building Society lender panel
- Buy-to-Let help for Barnsley Building Society
- Consent-to-Let help for Barnsley Building Society
- Contractor Mortgages with Barnsley Building Society
