Wednesday, 29 January 2014

Cambridge Conveyancing Panel Now Open to Licensed Conveyancers

Cambridge Building Society today removed the restriction which prevented Licensed Conveyancers from being on the society's panel. 

The new requirements for being added to the panel are as follows
  • Minimum of two partners in the practice
  • Minimum indemnity cover of two million
  • The practise must be listed in the Butterworths Law Directory, Waterlows Law Directory or be listed on the Law Society website. (It is however not clear if conveyancers can be listed on such Butterworths or Waterlows directories).
  • Secure premises to hold securities
It seems that Cambridge BS may wish to make a further amendment to reference a firm being listed on the CLC website.
The previous requirement that a firm had to be within East Anglia has also been removed.
To see the full wording of the changes click here.

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