West Bromwich Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by West Bromwich Building Society and to assist in remaining on the West Bromwich Building Society Approved Conveyancing Solicitors.

West Bromwich Building Society Solicitor Panel Assistance:

What are the West Bromwich 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:

Generally, Firms must have at least two Partners however all Firms wishing to be admitted to the conveyancing panel should contact Mortgage Deeds Administration Department in the first instance - See E.33 below for contact details.

You must also comply with the terms and conditions of your West Bromwich Building Society solicitor panel appointment.

Can my firm submit a complaint to the BSA about being removed excluded suspended from the West Bromwich Building Society conveyancing panel?
The BSA is not a regulator and therefore cannot investigate grievances against lenders. You can of course contact Lexsure to see if we can help.
A recent SRA survey reveals that three quarters of solicitors have been removed or threatened with removal from a lender conveyancing panel. West Bromwich Building Society and other building societies have restricted their panel over the years. Why?
The feeling from lenders generally (we can not speak for West Bromwich Building Society specifically), is that for too long solicitors have concentrated on their duty of care to their purchasing client, and have paid scant attention to the duty they owe to the lender, whom they conveniently forget is also their client.

Looking from the lenders’ perspective, it has to be said that there are pressures to encourage smaller panels. The Financial Services Authority regards the open panel system as a major contributor to mortgage fraud and negligence cases, and has been leaning on lenders to move to proactive panel management, which is more expensive the larger the panel. Hence it is becoming more common for lenders to charge fees, and/or require extensive form-filling, from would-be panel members

West Bromwich Building Society and other BSA lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced.

Are there conditions, outside the BSA Mortgage Instructions, that a firm should be aware of when on the West Bromwich Building Society conveyancing panel?
In order to be on the West Bromwich Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily West Bromwich Building Society) are as follows:
  • To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
  • To forward the title deeds and documents to another conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
  • That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
  • Without prejudice to your obligation to comply in full with the Safeguards provisions in the BSA Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
  • If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
I seldom receive a copy of a lender valuation any more. Does the extent of my West Bromwich Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with West Bromwich Building Society as the Mortgagee?
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. First, 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.
Lockton’s PII renewal form enquires if my practice had been removed off any bank panels in the last year . I just discovered that the firm is no longer on the West Bromwich Building Society solicitor panel? Is this likely to impact my PII premium?
The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for West Bromwich Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
Can the BSA assist me in an appeal having not been accepted onto the West Bromwich Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the West Bromwich Building Society conveyancing panel then the BSA will not have any part to play in influencing West Bromwich Building Society in changing their mind. Please contact us here at Lexsure so that we can put you in touch with a consultant who may be able to assist. At the very least it’s worth a call to us.
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:

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Average number of days to register title including a charge in favour of West Bromwich Building Society
This information relates to purchase only and not remortgages.
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* Data aggregated from sources including COMPLETIONmonitor