Coventry Building Society Conveyancing Lender Panel Compliance Tool

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

This software is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Coventry Building Society’s changes. Even though utilising COMPLETIONmonitor is not a prerequisite for Coventry Building Society , demonstrating you can remain up to date with Coventry Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your panel standing.

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

Find a Law Firm approved by Coventry Building Society

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Coventry 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, Coventry Building Society has made 276 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 9.9 days. In total, 50% of the sections of P2 of the UK Finance Lenders’ Handbook for Coventry 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 27/09/2019 CML
6.7.1 09/09/2019 CML
6.6.1 11/07/2019 CML
16.4.2 11/04/2019 CML
17.1.1 10/04/2019 CML
17.2.1a 10/04/2019 CML
6.5.1 07/03/2019 CML
6.7.1 23/03/2018 CML
6.4.4 05/07/2017 CML
5.20.3 05/07/2017 CML

Last update 12/01/2020

FAQs for the Coventry Building Society Solicitor Panel from members of the public

I would like to know the reason why all solicitors aren't included on the Coventry Building Society Conveyancing panel?
Coventry Building Society and other mortgage companies normally imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Coventry Building Society have no responsibility for the quality of advice provided by any member of Coventry Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Coventry Building Society was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor says that as she is on the Coventry Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Coventry Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Coventry Building Society)which states 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 Coventry Building Society.
I am purchasing a property and need a conveyancing solicitor in Birmingham who is on the Coventry Building Society solicitor. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry Building Society . We don’t recommend any particular firm.
Please explain the implications if my solicitor is expelled from the Coventry Building Society Solicitor panel prior to completion?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are getting a further advance on our mortgage from Coventry Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Coventry Building Society conveyancing panel to deal with the legals?
Coventry Building Society do not ordinarily instruct a member of 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 Coventry Building Society panel
I currently have a mortgage with with Coventry Building Society. Conveyancing has been completed a year ago. If I am intending 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 Coventry Building Society?
Your original mortgage agreement with Coventry Building Society will provide that you need their approval prior to letting out your property as this is likely to be a breach of Coventry Building Society’s mortgage conditions. It may be that Coventry Building Society will permit you to let 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 Coventry Building Society directly. You need not do this via a Coventry Building Society conveyancing panel solicitor.
I have instructed a lawyer having made sure that they are on the Coventry Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Coventry Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Coventry Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry 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 Coventry Building Society you could contact your them to see if they have a list of approved surveyors.