Darlington Building Society Conveyancing Panel Information

The Council of Mortgage Lenders (or the BSA) do not involve themselves in training but they do provided numerous general conveyancing related conferences which are attended by firms on the Darlington Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Darlington Building Society’s Part 2 obligations. Solicitors on the Darlington Building Society conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor P2 change Notifications.

The CML, along with Darlington Building Society and other lenders developed a standard set of instructions where a conveyancer is acting for a lender such as Darlington Building Society alone in a residential conveyancing matter. These legal instructions are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed together with Sections One and Two. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

As is the case with the Law Society the CLC has initiated discussions with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Darlington Building Society in the recent past.

In order to be on the Darlington Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Darlington Building Society) are as follows:

• To forward the title deeds and documents to another solicitor/conveyancer 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.
• To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of 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.
• 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 CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.

The Law Society’s CQS membership is no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. Some Lenders now use the scheme as the starting point for Panel acceptance as is the case with HSBC.

You would be advised to contact Darlington Building Society to obtain standard documents. The CML Handbook contains a specific question for banks to reveal who to contact to obtain standard documents. Darlington Building Society in their Part 2’s state: Don’t forget to disclose the firm’s Darlington Building Society solicitors panel number.