Penrith Building Society Conveyancing Panel Information
BSA Designator: Penrith Building Society
Jurisdiction: England and Wales
The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Penrith Building Society and to assist in remaining on the Penrith Building Society Approved Conveyancing Solicitors.
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Penrith Building Society Solicitor Panel Information:
Firm must have minimum of 3 partners/principals and provide copy of the acting partner's practicing certificate and confirmation of professional indemnity insurance. Contact point see above.
You must also comply with the terms and conditions of your Penrith Building Society solicitor panel appointment.
Not taken up within 3 months
Non compliance with any conditions
Non disclosure of any relevant information
Any information discovered that may be fraudulent or misleading
Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Penrith Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check the Penrith Building Society Specific Requirements of BSA Handbook to be sure), but you are obliged to explain risks and availability to the client.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one.
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Recent Changes Include
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Last update 19/09/2019