Chelsea Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This system 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. While using the tool is not a condition for being 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 application to their lender panel and, just as importantly, protect your firm’s panel standing.

The system generates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

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 371 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 7.4 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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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 30/09/2019 CML
16.1.1 17/09/2018 CML
6.14.1 30/11/2015 CML
17.1.1 01/12/2014 CML
3.1.6 01/12/2014 CML
6.14.1a 01/12/2014 CML
6.14.1d 01/12/2014 CML
6.5.1 01/12/2014 CML
5.8.1 14/01/2014 CML
5.20.3 16/08/2013 CML

Last update 13/01/2020

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

I am progressing with the sale of my flat and the EA has just called to advise that the buyers are appointing a new property lawyer. The excuse is that Chelsea Building Society will only engage with solicitors on their approved list. On what basis would a major mortgage company only engage with certain solicitors?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

My wife and I intend to remortgage our apartment with Chelsea Building Society. We have a son 18 who lives with us. The solicitor on the Chelsea Building Society conveyancing panel requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Chelsea Building Society conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Chelsea Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Chelsea Building Society .This is solely used to protect the Chelsea Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Chelsea Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

How up to date is your database of lawyers on the Chelsea Building Society conveyancing panel? Do Chelsea Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Chelsea Building Society conveyancing panel as opposed to being supplied with a list from Chelsea Building Society directly.
I am purchasing a right to buy flat and getting a mortgage with Chelsea Building Society. How practical is it for me to do the 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.
What are the common reasons for a lender such as Chelsea Building Society to withdraw a mortgage offer?
Banks and Building Societies such as Chelsea Building Society can withdraw their mortgage offer although this rarely happens. If Chelsea Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
  • Many mortgage offers have an expiry date. Your lawyer should check this. Chelsea Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
  • If the borrower informs Chelsea Building Society of a change in security address
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
  • Where the Lender’s right to possession is fettered in some way
  • If the solicitor on the Chelsea Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Chelsea Building Society ‘s instructions
We were going to get a DIP from Chelsea Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Chelsea Building Society recommend a solicitor on the Chelsea Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Chelsea Building Society conveyancing panel. The solicitor represents both you and the Chelsea Building Society through the process.
Chelsea Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Chelsea Building Society or your broker and complete any relevant paperwork. Chelsea Building Society will tell you what documents they want. Chelsea Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Chelsea Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.