Barnsley Building Society Conveyancing Panel Information

The Council of Mortgage Lender requirements of Barnsley Building Society are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Barnsley Building Society’s interest. To be absolutely sure of Barnsley Building Society requirements in this regard please check the Terms and Conditions of Barnsley Building Society’s conveyancing panel appointment.

You need to be careful here as what you are intending may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

You will be aware of the trend in recent years for lenders such as Barnsley Building Society to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the Barnsley Building Society panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and Barnsley Building Society have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires Barnsley Building Society’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for Barnsley Building Society. You will no doubt be required to undertake directly to Barnsley Building Society’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off the Barnsley Building Society conveyancing panel.

9 consumers attempt to locate a conveyancing practitioner on the Barnsley 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.

In this situation please explain on the form what steps you have taken to discover 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 putting you on notice?

You should get in touch with Barnsley Building Society to obtain standard documents. The CML Handbook includes an individual question for lenders to set out who to contact to obtain standard documents. Barnsley Building Society in their Part 2’s state: It helps to quote your Barnsley Building Society solicitors panel number.