Chelsea Building Society Conveyancing Lender Panel Compliance Tool

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 facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Chelsea Building Society’s changes. While using this technology 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 panel application and, just as importantly, protect your firm’s panel standing.

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

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Mortgage companies 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, frequently:

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
5.14.1 05/09/2017 CML
17.2.1b 06/02/2017 CML
5.14.1 17/11/2016 CML
16.1.1 01/12/2014 CML
17.1.1 01/12/2014 CML
6.14.1 01/12/2014 CML
6.4.5 14/01/2014 CML
5.20.1 16/08/2013 CML
5.20.3 16/08/2013 CML
5.20.4 16/08/2013 CML

Last update 04/11/2018

Examples of recent questions relating to the Chelsea Building Society Solicitor Panel from members of the public

I am getting a mortgage with Chelsea Building Society. I hope to retain the legal services of a Licensed Conveyancer. Does the Chelsea Building Society Conveyancing panel exclude conveyancers regulated by the CLC
Chelsea Building Society’s approved solicitor list is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
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 Chelsea Building Society will not agree to this. Why was Chelsea Building Society even consulted?
Your lawyer being on the Chelsea Building Society conveyancing panel is duty bound to inform Chelsea Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Chelsea Building Society then they would have to discontinue acting for you and Chelsea Building Society.
How do I find a local solicitor on the Chelsea Building Society conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Chelsea Building Society solicitor panel.
I am purchasing a semi-detached house and getting a mortgage with Chelsea Building Society. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Chelsea Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Chelsea Building Society conveyancing panel in your location.
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to proceed? I hope to get a mortgage with Chelsea Building Society. Is it possible to avoid using solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Chelsea Building Society involved you will need to appoint a solicitor on the Chelsea Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Chelsea Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Chelsea Building Society conveyancing panel.
I have a mortgage with Chelsea Building Society. Conveyancing has been completed months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Chelsea Building Society?
Chelsea Building Society must be informed of your intention before letting out your property as this is likely to be a breach of Chelsea Building Society’s mortgage conditions. It may be that Chelsea Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Chelsea Building Society directly. It should not be necessary to do this via a Chelsea Building Society conveyancing panel lawyer.
I have instructed a lawyer having made sure that they are on the Chelsea Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of mortgage guides,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 Chelsea Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Chelsea Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Chelsea 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 Chelsea Building Society you could contact your them to see if they have a list of approved surveyors.