Cambridge Building Society Conveyancing Panel Information
The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Cambridge Building Society and to assist in remaining on the Cambridge Building Society Approved Conveyancing Solicitors.
Looking for information about your firm's panel status?
Cambridge Building Society Conveyancing Panel Assistance:
Our requirements for being added to our panel are:
- Minimum of two partners in the practice
- Minimum indemnity cover of two million
- The practise must be listed in the Butterworths Law Directory, Waterlows Law Directory or be listed on the Law Society website
- Secure premises to hold securities
You must also comply with the terms and conditions of your Cambridge Building Society solicitor panel appointment.
- To forward the title deeds and documents to another solicitor 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.
- 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.
- To quote on all communications with us relating to deeds 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.
- You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
- Without prejudice to your obligation to comply in full with the Safeguards provisions in the BSA Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
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 Cambridge Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Cambridge 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 Cambridge Building Society conveyancing panel status.
Find a Lawyer on the Cambridge Building Society Approved Conveyancing Solicitors
powered by LenderPanel