Family Building Society Conveyancing Panel Information

This not something that the CML would traditionally get involved with however they do arrange a number of useful conveyancing related conferences which are attended by firms on the Family Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the coming months including a webinar on Family Building Society’s Part 2 obligations. Law firms on the Family Building Society conveyancing panel are welcome. Information about the webinar will be made available as part of the LENDERmonitor P2 change Notifications.

We only know of a couple of banks that operate a separate conveyancing panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Family Building Society. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Family Building Society

In the same way that there is a unique Family 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. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Family Building Society conveyancing panel to see if you are entitled to a reason.

CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their panels. Some Lenders now use the scheme as the starting point for Panel acceptance as is the case with Santander.

You would be advised to get in touch with Family Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit section for lenders to establish who to contact to obtain standard documents. Family Building Society in their Part 2’s state: Please remember to quote the firm’s Family Building Society solicitors panel number.