Looking for information about your firm's panel status?
Cumberland Building Society Conveyancing Panel Information:
What are the Cumberland 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:
For residential mortgages (including Buy to Let and Holiday Let) the conveyancing panel is administered by Lender Exchange and the Customer Service Department, Redemptions. For Commercial Mortgages the conveyancing panel is administered by the Commercial Lending Team.
For residential mortgages (including Buy to Let and Holiday Let) the conveyancing panel is administered by Lender Exchange and the Customer Service Department, Redemptions. For Commercial Mortgages the conveyancing panel is administered by the Commercial Lending Team.
You must also comply with the terms and conditions of your Cumberland Building Society solicitor panel appointment.
I am on the Cumberland Building Society conveyancing panel. Can I get an archived copy of Cumberland Building Society Specific Requirements from the BSA?
The BSA, as is the case with the CML do not retain historic of Specific Requirements. We would recommend you contact Cumberland Building Society direct.
Do you have any idea what Lenders such as Cumberland Building Society are asking for when it comes to applying to be on their approved conveyancing panel?
Each lender has different criteria.
We do not hold specific requirements relating to the questions raised as part of the application to be on the Cumberland Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
- Details of any accreditation e.g. Lexcel and/or Conveyancing Quality Scheme
- Full complaints history for each licensed conveyancer
- Solicitor client account(s) details
- List of all Licensed Conveyancers within firm
- Whether any lender has ever made a claim against the firm’s PII cover
- SRA or equivalent regulator registration number where applicable
- List of all those who fund the firm, including non-lawyers if applicable
- Whether the firm has ever accepted instructions in respect of property clubs and investment schemes
- Areas of Law covered by the firm
- Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.
I have read a number of legal articles recently about firms being sued for non-compliance with BSA Mortgage Instructions. I am on the Cumberland Building Society conveyancing panel. Can you tell me how many Specific Requirement changes took place by Cumberland Building Society during 2013?
During this period 4 sections of the BSA Mortgage Instructions were changed by Cumberland Building Society. Some changes are more important than others but as a firm on the Cumberland Building Society conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender 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: BSA requirements are not guidelines; they are the lender client’s instructions.
My firm is on the Cumberland Building Society conveyancing panel. I am
dealing with Cumberland Building Society mortgage on a purchase. My
borrower client is asking not to disclose an issue to Cumberland Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Cumberland Building Society and
borrower there is potential for conflicts to arise. You owe duties to
both clients. All information received by you from your client is
confidential and cannot be disclosed without the client’s consent.
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 Cumberland Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Cumberland 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 Cumberland Building Society conveyancing panel status.
I seldom receive a copy of a lender valuation any more. Does the extent of my Cumberland Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Cumberland Building Society as the lender?
You have a number of obligations in this regard which are to be followed if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an out of date postal address or DX details.
Does CQS acceptance guarantee my firm’s acceptance on to building society conveyancing panels?
CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the BSA have indicated that it is likely to become a prerequisite for firms wishing to join their panels. A number of Lenders now use the scheme as the starting point for Panel acceptance as is the case Santander .
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 Cumberland Building Society Arroved Conveyancers Panel
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Average number of days to register title including a charge in favour of Cumberland Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | 15.3 |
| 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 Cumberland Building Society Firms
- Draft Report on Title precedent for Cumberland Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Cumberland Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Cumberland Building Society lender panel
- Buy-to-Let help for Cumberland Building Society
- Consent-to-Let help for Cumberland Building Society
- Contractor Mortgages with Cumberland Building Society
