Looking for information about your firm's panel status?
Vernon BS Conveyancing Panel Information:
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.
I am on the Vernon BS conveyancing panel. Can I get an archived copy of Vernon BS Specific Requirements from the BSA?
The BSA, as is the case with the CML do not maintain data sets of Specific Requirements. The BSA advise that you contact Vernon BS direct.
Can my firm make a complaint to the BSA about being removed excluded suspended from the Vernon BS conveyancing panel?
The BSA is an association rather than a regulator and therefore do not investigate grievances against lenders. You can of course contact Lexsure to see if we can help.
Will the fact that my practice subscribes 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.
My practice have never been on the Vernon BS solicitor panel among other banks . My clients, who have applied for a mortgage with Vernon BS still want me to act for them even though I am not on the Vernon BS panel. Is it fine for me to use a firm down the road to act for Vernon BS 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 will 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 have read a number of legal articles recently about firms being sued for non-compliance with BSA Mortgage Instructions. I am on the Vernon BS conveyancing panel. Can you tell me how many Specific Requirement changes took place by Vernon BS during 2013?
During this period 0 sections of the BSA Mortgage Instructions were changed by Vernon BS. Some changes are more important than others but as a firm on the Vernon BS conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: BSA requirements are not guidelines; they are the lender client’s 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
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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
