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Cambridge Building Society Conveyancing Lender Panel Compliance Tool

Looking for information about your firm's panel status?

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How can my firm apply to be on the Cambridge Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Cambridge Building Society Conveyancing Panel?
Check your firm’s panel Status

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. It is supported by professional indemnity insurers. It is a unique risk management tool.

This system facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on Cambridge Building Society’s changes. Notwithstanding that using COMPLETIONmonitor is not a prerequisite for Cambridge Building Society , demonstrating you can remain up to date with Cambridge Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your panel status.

The system generates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Cambridge Building Society

Lenders frequently change 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, frequently:

A Timeline of Policy Changes


Since 2010, Cambridge Building Society has made 75 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 36.4 days. In total, 50% 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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Common questions asked concerning the Cambridge Building Society Solicitor Panel from members of the public

For what reasons could a law firm be removed from the Cambridge Building Society solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
  1. Low volume of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction
  4. regulatory contact by SRA
  5. accidental removal. We are not aware of the specific or common criteria for removal by Cambridge Building Society
Much to my surprise my conveyancing solicitor has requested from me ID documents asserting that this is part of his retainer as a conveyancer on the Cambridge Building Society Conveyancing panel. Can this be correct?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Cambridge Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Cambridge Building Society CML Handbook requirements last updated on Cambridge Building Society
I see that you have a post code search directory identifying firms on the Cambridge Building Society conveyancing panel. Do firms pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Cambridge Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my solicitor is suspended from the Cambridge Building Society Conveyancing panel prior to completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is the case that all CQS (Conveyancing Quality Scheme) 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 accreditation 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 approved list of conveyancing solicitors.
What are the common reasons for a lender such as Cambridge Building Society to withdraw a mortgage offer?
Banks and Building Societies such as Cambridge Building Society can revoke their mortgage offer although this rarely happens. In the unlikely event that Cambridge Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
  • Where information comes to Cambridge Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
  • If the financial circumstances of the borrower have changed to the detriment and the Cambridge Building Society has been notified
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
For 5 years I had a mortgage with Cambridge Building Society. My uncle retired last week 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. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.

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