Chelsea Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Chelsea Building Society’s changes. While using COMPLETIONmonitor is not a condition for acceptance on the Chelsea Building Society panel, demonstrating you can stay up to date with Chelsea Building Society’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your panel standing.

COMPLETIONmonitor 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 many firms, leads to a PII saving.

Find a Law Firm approved by Chelsea Building Society

Banks and building societies often vary 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 367 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 7.4 days. In total, 32% 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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Recent Changes Include

# Date Assoc. Changes Related To
16.1.1 17/09/2018 CML
5.14.1 05/09/2017 CML
16.4.1 06/02/2017 CML
5.14.1 17/11/2016 CML
6.8.1 14/01/2014 CML Adoption of Road or Sewer Indemnity Insurance
5.4.5 16/08/2013 CML Local Search Indemnity Insurance
17.2.1b 12/07/2013 CML
10.3 03/05/2013 CML
14.1.5 03/05/2013 CML
5.14.1 03/05/2013 CML

Last update 19/03/2019

Chelsea Building Society Solicitor Panel Example Support Desk Enquires from members of the public

For what reasons would a law firm be excluded from the Chelsea Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The most common reasons in order 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. We are not aware of the specific or common criteria for removal by Chelsea Building Society
I am purchasing a newly built duplex and my solicitor is telling me that she is duty bound to disclose incentives from the developer as her firm is on the Chelsea Building Society conveyancing panel. I am on a tight deadline to sign contracts and I would rather not delay deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Whilst your website is a good idea there are many lawyers listed near Leeds on the Chelsea Building Society conveyancing panel. Can you recommend a specific firm on the Chelsea Building Society approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My conveyancers in Liverpool have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Chelsea Building Society. Is it case that being on the Chelsea Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender 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 Chelsea Building Society Conveyancing Panel Terms. It might be worth you contacting Chelsea Building Society directly.
My wife and I have arranged a further advance on our mortgage from Chelsea Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Chelsea Building Society conveyancing panel to deal with the paperwork?
Chelsea Building Society would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Chelsea Building Society panel
The for formalities of my remortgage has taken place with a mortgage from Chelsea Building Society. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Chelsea Building Society. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the Chelsea Building Society branches or the Customer Services Department at Chelsea Building Society head office. Ordinarily complaints to Chelsea Building Society are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service who will take matters further.
My ex -wife’s name is on the Chelsea Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Chelsea Building Society mortgage in order to sell?
In terms of the Chelsea Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Chelsea Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.