Penrith Building Society Conveyancing Panel Information

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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How does my firm apply to be on the Penrith Building Society Approved Conveyancing Solicitors?

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Penrith Building Society Conveyancing Panel Information:

What are the Penrith 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:

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.

Can a firm submit a complaint to the BSA about being removed excluded suspended from the Penrith Building Society conveyancing panel?

The BSA is not a regulator and therefore will not investigate grievances against lenders. You can of course contact us to see if we can assist.

Does the fact that my practice subscribes to LENDERmonitor Alerts assist in my application to join the Penrith Building Society conveyancing panel?

The requirements to join the Penrith Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Am I obliged, being on the Penrith Building Society conveyancing panel, to carry out a flood search?

Penrith Building Society make no specific obligation to carry out any of the searches listed. The BSA Mortgage Instructions simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

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.

What sort of information are Lenders such as Penrith Building Society are asking for when it comes to applying to be on their approved conveyancing panel?

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Penrith Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Structure of firm and, where applicable, its group
Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
Full disciplinary history for each licensed conveyancer
Full complaints history for each conveyancing solicitor
Automated alerting to inform lenders when there is a fundamental change to the firm e.g. change of management
List of all those who fund the firm, including non-lawyers if applicable
Whether any lender has ever made a claim against the firm’s PII cover
House price discrepancies (declared to lender vs. registered at Land Registry)
Charge registration history
List of all those staff who work within the conveyancing team

Why did the Building Society Association introduced differing instructions from the CML?

The BSA introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.

Who do building societies include on their conveyancing panel?

In the same way that there is a unique Penrith 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.

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 Penrith Building Society Approved Conveyancing Solicitors

Average number of days to register title including a charge in favour of Penrith Building Society

This information relates to purchase only and not remortgages.

Year	Days*
2025	[no data]
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]
2020	[no data]

* Data aggregated from sources including COMPLETIONmonitor

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