Chelsea Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Chelsea Building Society’s changes. Even though utilising COMPLETIONmonitor is not a condition for acceptance on the Chelsea Building Society panel, demonstrating you can remain up to date with Chelsea Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Chelsea Building Society

Mortgage companies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Chelsea 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 2008, Chelsea Building Society has made 374 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 7.3 days. In total, 33% of the sections of P2 of the UK Finance Lenders’ Handbook for Chelsea Building Society have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Common questions asked concerning the Chelsea Building Society Conveyancing Panel from members of the public

Am I correct in assuming that the fact that my solicitor is not on the Chelsea Building Society Conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack 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. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Chelsea Building Society.
Please assist. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Chelsea Building Society was dated random date and we have agreed a date for me to move into the property on 6 months + 3. My solicitor informs me that as she is on the Chelsea Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
A precondition to being on the Chelsea Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Chelsea Building Society)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Chelsea Building Society.
I am purchasing a property and require a conveyancing solicitor in London who is on the Chelsea Building Society conveyancing. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Chelsea Building Society . We don’t recommend any particular firm.
I am selling my house. Does my solicitor have to be on the Chelsea Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Chelsea Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Is it the case that all conveyancing lawyers on the Chelsea 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 package
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Chelsea Building Society conveyancing panel requirements are different to Chelsea Building Society’s conveyancing panel requirements.
Next month my fiance and I are purchasing a flat in Hendon. Conveyancing solicitors in Hendon are about to begiven the go-ahead. My brokerrecommended that we check that the conveyancing practitioner in Hendon is on the Chelsea Building Society panel. Surely I don't need to do this, do I?
It is not that case that all Hendon conveyancing solicitors are on the Chelsea Building Society conveyancing panel. Click here to search for a Hendon conveyancing solicitor on the on the Chelsea Building Society list of approved conveyancing firms.