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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How does my firm apply to be on the Vernon BS Conveyancing Panel Building Society?

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How can my firm be reinstated onto the Vernon BS Conveyancing Panel Building Society?

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Vernon BS Solicitor 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.

Will the fact that my firm has signed up to LENDERmonitor Alerts assist in my application to join the Vernon BS conveyancing panel?

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

Do you have any idea what Lenders such as Vernon BS are asking for when it comes to applying to be on their approved solicitor list?

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 Vernon BS conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Full career history for each solicitor including admission date to the relevant Law Society
Whether the firm has ever applied for accreditation and the outcome of the application
Whether the firm is able to operate in other jurisdictions
Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)
Full complaints history for each licensed conveyancer
SRA or equivalent regulator registration number where applicable
List of all those who can sign off the Certificate Of Title
Areas of Law covered by the firm
List of all those staff who work within the conveyancing team
Number of lender conveyancing panels the firm is currently on

Are the Council of Licensed Conveyancers taking any action to protect licensed conveyancers from being removed from lender panels?

As is the case with the Law Society the Council of Licensed Conveyancers has entered dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Vernon BS as well as the CML

My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on numerous bank panels including the Vernon BS conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Am I supposed to mention these Terms?

The key here is the caveat ‘more onerous’.

You have to try and take an objective view as to whether the Terms relating to the Vernon BS conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.

The firm that I work for is on the Vernon BS conveyancing panel. I am dealing with Vernon BS mortgage on a purchase. My borrower client is asking not to disclose an issue to Vernon BS. What do I do in this conflict situation?

When a solicitor is acting for both Vernon BS and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent.

In your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Vernon BS and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Vernon BS of the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Vernon BS conveyancing panel status.

We had our Vernon BS panel membership suspended but we have not yet been given an explanation yet . I am completing a CQS application form what details do I need to put forward?

In this situation please explain on the form what action you have taken to find out the reasons behind cancellation of your Vernon BS panel membership . In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

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*
2026	[no data]
2025	[no data]
2024	[no data]
2023	[no data]
2022	[no data]
2021	[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