Ipswich Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Ipswich Building Society and to assist in remaining on the Ipswich Building Society Approved Conveyancing Solicitors Panel.

Ipswich Building Society Solicitor Panel Assistance:

What are the Ipswich 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 Society operates a Conveyancing Panel and in order for Firms to act for the Society you must be appointed to this panel. To be appointed to the panel you should apply at:-
 www.lms.com/lenderpanels
 

You must also comply with the terms and conditions of your Ipswich Building Society solicitor panel appointment.

Can my firm submit a complaint to the BSA about being removed excluded suspended from the Ipswich Building Society conveyancing panel?
The BSA is an association rather than a regulator and therefore do not advise on complaints against lenders. You can of course contact Lexsure to see if we can assist.
Do Ipswich Building Society or the Building Society Association run training Courses for the Ipswich Building Society approved solicitor panel in the same way that CQS run CPD Courses for accredited firms?
No such training is arranged by the BSA however they do organise a number of useful legal related conferences which are attended by firms on the Ipswich Building Society conveyancing panel. It is our intention to run specific lender focused seminars in the near future including a webinar on Ipswich Building Society’s requirements . Law firms on the Ipswich Building Society conveyancing panel are welcome . Further details will be made available as part of the LENDERmonitor change Notifications .
Do the Building Society Association intend to launch a searchable register to list solicitors on the Ipswich Building Society conveyancing panel ?
We would not expect to be advised of any plans on the part of the BSA to promote such a search facility .
Being on the Ipswich Building Society conveyancing panel for what period of time am I expected to archive the original conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for at least 6 years from the date of the mortgage. Data imaging is normally suitable compliance with this requirement. As a firm on the Ipswich Building Society conveyancing panel you must allow Ipswich Building Society to conduct such reasonable audit of your information security measures as Ipswich Building Society or their agents may to ensure your compliance with your file retention obligations.
My PI renewal application this year contained the following question: ‘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 approved panels including the Ipswich Building Society conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Do I disclose these these Conditions?
The key here is the caveat ‘more onerous’.

You have to try and take an objective view as to whether the Terms relating to the Ipswich 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 completing the answer.

Can the BSA assist me in an appeal having not been accepted onto the Ipswich Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the Ipswich Building Society conveyancing panel then the BSA will not have any part to play in influencing Ipswich Building Society in changing their mind. Please contact us here at Lexsure so that we can put you in touch with a consultant who may be able to assist. At the very least it’s worth a call to us.
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:

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Average number of days to register title including a charge in favour of Ipswich Building Society
This information relates to purchase only and not remortgages.
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* Data aggregated from sources including COMPLETIONmonitor