Vernon BS Conveyancing Panel Information

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

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Vernon BS Conveyancing Panel Assistance:

What are the Vernon BS 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:

Solicitors and licensed conveyancers acting for the Society must have the appropriate professional qualifications, professional indemnity insurance, adequate cover for absence, and properly constituted commercial premises with adequate provision for the secure storage of deeds.

The Society requires the following:

(i) All Solicitor firms must have a minimum of 2 SRA approved managers

(ii) All Licenced Conveyancer firms must have a minimum of 2 Licenced Conveyancers

You must also comply with the terms and conditions of your Vernon BS solicitor panel appointment.

Do Vernon BS or the Building Society Association run training seminars for the Vernon BS approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?

The BSA do not involve themselves in training however they do arrange a number of general conveyancing related conferences which are attended by firms on the Vernon BS conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Vernon BS’s requirements . Law firms on the Vernon BS conveyancing panel are welcome . Further details will be communicated as part of the LENDERmonitor change Notifications .

Is it probable that Vernon BS will appoint another lawyer on the Vernon BS lender panel for a further advance during the lifetime of a mortgage ?

The BSA Mortgage Instructions applicable to a solicitor on the Vernon BS conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the Vernon BS conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction must be adhered to .

Am I obliged, being on the Vernon BS conveyancing panel, to carry out a Chancel Search?

Vernon BS 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’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Vernon BS are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check the Vernon BS Specific Requirements of BSA Handbook to be sure), but you are obliged to explain risks and availability to the borrower.

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.

Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel ?

Many estate agents will be suffering if their clients start out on the conveyancing process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.

Given my firm’s membership on the Vernon BS conveyancing panel how long am I expected to archive the original conveyancing file?

The BSA Mortgage Instructions state that the firm must keep the file for a minimum six years from the date of the mortgage. Data imaging is normally suitable compliance with this requirement. As a firm on the Vernon BS conveyancing panel you must allow Vernon BS to conduct such reasonable audit of your information security measures as Vernon BS or their agents may to ensure your compliance with your file retention obligations.

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

The Building Society Association 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.

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 Vernon BS Conveyancing Panel Building Society

Average number of days to register title including a charge in favour of Vernon BS

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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Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors