Stafford Railway Building Society Conveyancing Panel Assistance:
What are the Stafford Railway 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 uses Legal Marketing Services Ltd (LMS) for its panel arrangements.
You must also comply with the terms and conditions of your Stafford Railway Building Society solicitor panel appointment.
Do Stafford Railway Building Society or the BSA run professional training Courses for the Stafford Railway Building Society approved solicitor panel akin to the way that CQS do?
No such training is arranged by the BSA but they do host numerous useful legal related conferences which are attended by firms on the Stafford Railway Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Stafford Railway Building Society’s requirements . Law firms on the Stafford Railway Building Society conveyancing panel will be invited . Further details will be communicated as part of the LENDERmonitor Alerts .
As a practice on the Stafford Railway Building Society solicitor panel who should we communicate with if I have a query about the BSA Specific Requirements ?
If you are a property lawyer and have a concern relating to the instructions,
you should make contact with Stafford Railway Building Society. The BSA will not advise or comment on specific queries relating to Stafford Railway Building Society or other lenders.
What type of firms do building societies include on their conveyancing panel?
In the same way that there is a unique Stafford Railway 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.
My practice have never been on the Stafford Railway Building Society solicitor panel as well other banks . My clients, who are getting a mortgage with Stafford Railway Building Society still want me to act for them even though I am not on the Stafford Railway Building Society panel. Am I doing anything wrong is suggesting to my client that they use a firm down the road to represent Stafford Railway Building Society on mortgage aspect of the conveyancing?
You need to be careful here as what you are suggesting may not be acceptable to the lender.
It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm.
You also need to make the costs implications and potential for delay very clear to your client.
I seldom receive a copy of a lender valuation any more. Do my Stafford Railway Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Stafford Railway Building Society as the lender?
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 address that is no longer valid.
Can the BSA help me join the Stafford Railway Building Society conveyancing panel?
The BSA has no role in influencing what conveyancers Stafford Railway Building Society instructs. If you want to be admitted onto Stafford Railway Building Society conveyancing panel you should contact Stafford Railway Building Society directly.
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 Stafford Railway Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Stafford Railway 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
Other related topics:
- CQS policy templates and procedures for accredited Stafford Railway Building Society Firms
- Draft Report on Title precedent for Stafford Railway Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Stafford Railway Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Stafford Railway Building Society lender panel
- Buy-to-Let help for Stafford Railway Building Society
- Consent-to-Let help for Stafford Railway Building Society
- Contractor Mortgages with Stafford Railway Building Society
