Cambridge Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This software optimises the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Cambridge Building Society’s changes. Even though utilising COMPLETIONmonitor is not a prerequisite for Cambridge Building Society , demonstrating you can remain up to date with Cambridge Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel status.

The software creates real-time alerts, automatically produces compliance and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in reduced PII premiums.

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Mortgage companies frequently vary their requirements. The BSA instructions from Cambridge 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, Cambridge Building Society has made 31 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 88.1 days. In total, 25% of the sections of the BSA Requirements for Cambridge Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
A.10 29/01/2014 BSA
C.11 29/01/2014 BSA
C.27 29/01/2014 BSA
D.56 29/01/2014 BSA
E.10 29/01/2014 BSA
C.12 29/01/2014 BSA
A.10 13/08/2013 BSA
C.10 13/08/2013 BSA
D.34 13/08/2013 BSA
A.12 13/08/2013 BSA

Last update 13/11/2018

Cambridge Building Society Conveyancing Panel : Questions and Answers from members of the public

The conveyancer my husband and I had intended to instruct on a remortgage said she would charge more if my mortgage is with Cambridge Building Society because of their difficult processes! Am I likely to be frustrated using Cambridge Building Society? Any comments will be appreciated
Cambridge Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Cambridge Building Society conveyancing panel. If they are not, this does add further risk of delay as Cambridge Building Society will appoint their own solicitors to look after their interest.
Please help. My solicitor is informing me me that he has to apply for a Local Authority search because the firm are on the Cambridge Building Society conveyancing panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with Cambridge Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Cambridge Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Cambridge Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Cambridge Building Society conveyancing panel. My lawyer has said that they are on the Cambridge 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 Cambridge 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 Cambridge Building Society solicitor panel.
My lawyers in Liverpool have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Cambridge Building Society. Is it case that being on the Cambridge Building Society conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Cambridge Building Society Conveyancing Panel Terms. It might be worth you contacting Cambridge Building Society directly.
Are all Conveyancing Quality Solicitors on the Cambridge Building Society conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
For 5 years I had a mortgage with Cambridge Building Society. My uncle has just retired and wants to pay off my mortgage. After Cambridge Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Cambridge Building Society conveyancing panel? I do not intend to live at the property once the Cambridge Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Cambridge Building Society panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
Completion of my remortgage has taken place with a loan from Cambridge Building Society. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Cambridge Building Society. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the Cambridge Building Society branches or the Customer Services Department at Cambridge Building Society head office. Ordinarily complaints to Cambridge Building Society are sorted out very quickly. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.