Looking for information about your firm's panel status?
Penrith Building Society Conveyancing Panel Assistance:
What are the Penrith Building Society conveyancing panel criteria?
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.
Are the BSA planning on creating a searchable register to to identify practices on the Penrith Building Society conveyancing panel ?
We have not been informed any intention on the part of the BSA to promote such a register .
What sort of information are Lenders such as Penrith Building Society are asking for when it comes to applying to be on their approved solicitor list?
Each lender has different criteria.
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):
- Full complaints history for each conveyancing solicitor
- Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
- Automated alerting to inform lenders when there is a fundamental change to the firm e.g. change of name
- List of all those who fund the firm, including non-lawyers if applicable
- Charge registration history
- List of all those staff who work within the conveyancing team
- House price discrepancies (declared to lender vs. registered at Land Registry)
- Full disciplinary history for each licensed conveyancer
- Structure of firm and, where applicable, its group
- Whether any lender has ever made a claim against the firm’s PII cover
Why has the BSA introduced its own instructions?
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.
I rarely receive a copy of a valuation from a lender these days. Does the extent of my Penrith Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Penrith Building Society as the Mortgagee?
There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an out of date postal address or DX details.
Can the BSA assist me in an appeal having not been accepted onto the Penrith Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the Penrith Building Society conveyancing panel then the BSA will not have any part to play in influencing Penrith 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 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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- Draft Report on Title precedent for Penrith Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Penrith Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Penrith Building Society lender panel
- Buy-to-Let help for Penrith Building Society
- Consent-to-Let help for Penrith Building Society
- Contractor Mortgages with Penrith Building Society
