Coventry Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This system facilitates the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Coventry Building Society’s changes. Notwithstanding that using COMPLETIONmonitor is not a prerequisite for Coventry Building Society , demonstrating you can remain up to date with Coventry Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, protect your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to a PII saving.

Book a Coventry Building Society Demo for this Panel Compliance Tool

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, frequently:

A Timeline of Policy Changes

Since 2008, Coventry Building Society has made 235 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 11.6 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 21/02/2017 CML
5.14.1 07/10/2016 CML
5.15.2b 21/03/2016 CML
14.1.5 21/03/2016 CML
16.3.2 18/01/2016 CML
4.5a 18/01/2016 CML
4.5b 18/01/2016 CML
16.4.2 07/01/2016 CML
6.7.3 07/01/2016 CML
8.1 07/01/2016 CML

Last update 03/11/2018

Common questions asked concerning the Coventry Building Society Solicitor Panel from members of the public

I was advised recently by my mortgage adviser that my property lawyer is not on the Coventry Building Society Solicitor panel. How can I be certain that this is indeed the case?
The best course of action for you to take is to contact your conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Coventry Building Society.
I am purchasing a brand new flat and my conveyancer is informing me that she is duty bound to reveal incentives from the developer as her firm is on the Coventry Building Society conveyancing panel. I am nearing the developer’s deadline to sign contracts and I would rather not delay the conveyancing. 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 Coventry Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Coventry 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.
I am searching for competitive conveyancing fees. Can I be sure that all the law firms that are listed on your website are on the Coventry Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Coventry Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Coventry Building Society panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Coventry Building Society conveyancing panel is not accurate.
I am trying to get my former partner taken off the mortgage deeds. Can Coventry Building Society really tell me which solicitor I can or can not use?
You can use any solicitor you like but Coventry Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Coventry Building Society solicitors panel
We have had an offer accepted on a apartment I spoke to a solicitor previously used by my brother and he advised retaining a solicitor approved by Coventry Building Society. The estate agent recommended two local firms so I asked Coventry Building Society if the 2 suggested solicitors are approved, which they are not. Coventry Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Coventry Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Coventry Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Coventry Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Coventry Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Coventry Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My fiance and I are in the process of looking at houses and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Coventry Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Coventry Building Society , make sure you remember to check that your lawyer is on the Coventry Building Society conveyancing panel.
Planning on purchasing a flat with a mortgage with Coventry Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Coventry Building Society conveyancing panel