Looking for information about your firm's panel status?
Cambridge Building Society Conveyancing Panel Information:
What are the Cambridge Building Society conveyancing panel criteria?
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.
I am on the Cambridge Building Society conveyancing panel. Can I get an archived copy of Cambridge Building Society Specific Requirements from the BSA?
The BSA, as is the case with the CML do not maintain historic of Specific Requirements. We would recommend you make a request of Cambridge Building Society directly.
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
Many estate agents will be suffering if their clients start out on the buying process having appointed a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
Being on the Cambridge Building Society conveyancing panel for what period of time am I obliged to archive the original conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for a minimum six years from the date of the mortgage. Data imaging is normally suitable
compliance with this requirement. As a firm on the Cambridge Building Society conveyancing panel you must allow Cambridge Building Society to conduct such reasonable audit of your
information security measures as Cambridge Building Society or their
agents may to ensure your compliance with your file retention
obligations.
What type of firms do building societies include on their conveyancing panel?
In the same way that there is a unique Cambridge Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement.
Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis.
I rarely receive a copy of a valuation from a lender these days. Do my Cambridge Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Cambridge Building Society as the Mortgagee?
You have a number of obligations in this regard which you need to follow if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to their old address.
We had our Cambridge Building Society panel membership revoked but we have not yet been given an explanation yet . I am completing a CQS application questionnaire what details must I report?
In the circumstances please explain on the form what action you have taken to discover the reasons behind cancellation of your Cambridge Building Society panel status . In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?
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* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [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
