Looking for information about your firm's panel status?
Vernon BS Conveyancing Panel Assistance:
What are the Vernon BS 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:
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.
Can my practice submit a complaint to the BSA about being removed excluded suspended from the Vernon BS conveyancing panel?
The BSA is not a regulator and therefore cannot advise on complaints against lenders. You can of course contact us to see if we can help.
Do Vernon BS or the BSA run training seminars for the Vernon BS approved conveyancing panel in much the same way that the Law Society run cases for CQS accedited practices?
This not something that the BSA would traditionally get involved with however they do host a number of useful conveyancing related conferences which are attended by firms on the Vernon BS conveyancing panel. We do intend to run specific lender focused seminars in the coming months including a webinar on Vernon BS’s requirements . Law firms on the Vernon BS conveyancing panel will be invited . Further details will be made available as part of the LENDERmonitor Alerts .
Will the fact that my practice receives Alerts via this site assist in my application to join the Vernon BS conveyancing panel?
The criteria to join the Vernon BS conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
My client is buying a semi detached house for
£835,250 in Kenton with a mortgage over GBP 525k.
I am on the Vernon BS conveyancing panel but do Vernon BS have a separate approved panel when a mortgage is above 300,000?
We only know of two or three banks that operate a distinct approved solicitors panel where the mortgage advance is over a certain level.
You should nevertheless check directly with Vernon BS. At one stage HSBC would only allow Sole practitioners to act for
them where the mortgage was below £150,000. We are not sure if HSBC
still operate such a condition. In your case it is best to check with
Vernon BS
Why did 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. Do my Vernon BS conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Vernon BS as the Mortgagee?
You have a number of obligations in this regard which are to be followed if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to their old address.
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
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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
Other related topics:
- CQS policy templates and procedures for accredited Vernon BS Firms
- Draft Report on Title precedent for Vernon BS borrowers
- Draft Anti Money Laundering PolicyTemplate for Vernon BS panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Vernon BS lender panel
- Buy-to-Let help for Vernon BS
- Consent-to-Let help for Vernon BS
- Contractor Mortgages with Vernon BS
