Looking for information about your firm's panel status?
Cambridge Building Society Solicitor Panel Information:
What are the Cambridge 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:
The minimum criteria for appointment to our panel are:
- At least two qualified partners who hold current Law Society practising certificates
- The practice must be listed in the Law Society or Council for Licensed Conveyancers directories
- The firm must have a minimum of £2 million professional indemnity cover
You must also comply with the terms and conditions of your Cambridge Building Society solicitor panel appointment.
Can a practice register a complaint to the BSA about being removed excluded suspended from the Cambridge Building Society conveyancing panel?
The BSA is not a regulator and therefore do not advise on grievances against lenders. You can of course contact us to see if we can assist.
Is it probable that Cambridge Building Society will instruct a different lawyer on the Cambridge Building Society solicitor panel for a further advance during the mortgage term ?
The Building Society Association Mortgage Instructions applicable to a solicitor on the Cambridge 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 Cambridge Building Society conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction will need to be adhered to .
Does the fact that my firm receives Alerts via this site assist in my application to join the Cambridge Building Society conveyancing panel?
The requirements to join the Cambridge Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Why has the BSA introduced its own instructions?
The BSA introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
What reports are available via COMPLETIONmonitor to assist my appeal to be reinstated on the Cambridge Building Society solicitor 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 (broken down into sale)
- 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. seen in person)
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on numerous lender panels including the Cambridge Building Society conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Do I disclose these these Terms?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations.
You have to try and take an objective view as to whether the Terms relating to the Cambridge Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.
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 Cambridge Building Society Approved Conveyancing Solicitors
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Average number of days to register title including a charge in favour of Cambridge Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
| 2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Cambridge Building Society Firms
- Draft Report on Title precedent for Cambridge Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Cambridge Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Cambridge Building Society lender panel
- Buy-to-Let help for Cambridge Building Society
- Consent-to-Let help for Cambridge Building Society
- Contractor Mortgages with Cambridge Building Society
