Beverley Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This software optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Beverley Building Society’s changes. Even though using COMPLETIONmonitor is not a prerequisite for Beverley Building Society , demonstrating you can stay up to date with Beverley Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your firm’s panel status.

The software creates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Beverley Building Society

Banks and building societies often change their requirements. The BSA instructions from Beverley Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes


Since 2010, Beverley Building Society has made 25 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 109.2 days. In total, 24% of the sections of the BSA Requirements for Beverley Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Beverley Building Society Conveyancing Panel Recently Asked Questions from members of the public

What is the rationale as to why all solicitors aren't included on the Beverley Building Society Conveyancing panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Beverley Building Society will not agree to this. Why was Beverley Building Society even consulted?
Your lawyer being on the Beverley Building Society conveyancing panel is duty bound to inform Beverley Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Beverley Building Society then they would have to discontinue acting for you and Beverley Building Society.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Beverley Building Society conveyancing panel. My lawyer has said that they are on the Beverley Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Beverley Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Beverley Building Society solicitor panel.
The firm that just started acting on my house acquisition in Brighton has suddenly shut down. They were on acting for me because I needed a lawyer on the Beverley Building Society conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Beverley Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
Is it the case that all conveyancing lawyers on the Beverley Building Society conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
We expect to receive a DIP from Beverley Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Beverley Building Society recommend a solicitor on the Beverley Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Beverley Building Society conveyancing panel. The solicitor represents both you and the Beverley Building Society through the process.
After shopping around on the internet I have found a solicitor having checked that they are on the Beverley Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've digested plenty of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Beverley Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Beverley Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Beverley Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Beverley Building Society you could contact your them to see if they have a list of approved surveyors.