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 professional indemnity insures. It is a unique risk management tool.

This system is the only way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Chelsea Building Society’s changes. Even though utilising this technology is not a prerequisite for Chelsea Building Society , 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 firm’s panel standing.

The system creates real-time alerts, automatically produces COLP 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

Banks and building societies 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 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
14.2.1 17/09/2018 CML
6.4.4 17/09/2018 CML
5.14.1 02/05/2017 CML
5.14.9 06/02/2017 CML
6.14.1 30/11/2015 CML
14.1.5 01/12/2014 CML
6.14.1d 01/12/2014 CML
6.14.2 01/12/2014 CML
6.14.3 01/12/2014 CML
3.1.3 01/12/2014 CML

Last update 28/03/2020

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

Am I correct in assuming that the fact that my conveyancer is not identified on the Chelsea Building Society Conveyancing panel that there is a problem with the standard of her work?
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 top 3 reasons are as follows: (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.
My wife and I changing mortgage lender for our maisonette with Chelsea Building Society. We have a son approaching twenty who lives with us. The solicitor on the Chelsea Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form 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?
On the face of it your lawyer has done nothing wrong 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.

Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Chelsea Building Society conveyancing panel. My lawyer has said that they are on the Chelsea Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Chelsea Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Chelsea Building Society solicitor panel.
I am buying 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.
How can we tell if a solicitor on the Chelsea Building Society panel is any good?
Getting recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer carrying out your transaction
Is it common for Chelsea Building Society to withdraw a mortgage offer and what would be the reasoning?
Banks and Building Societies such as Chelsea Building Society can revoke 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 various possible reasons but here are a number of examples:
  • Where information comes to Chelsea 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
  • 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.
  • Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Chelsea Building Society conveyancing panel solicitors would be obliged to notify Chelsea Building Society of a change in the price of the property.
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
  • 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
I have not been happy with the level or service received from my lawyer. Is there a Chelsea Building Society conveyancing panel complaints department or do I complain directly to the law firm?
Complaining to Chelsea Building Society about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.

The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.

If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.