Cumberland 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. It is a unique risk management tool.

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

The software generates real-time alerts, automatically produces COLP and CQS reports, and will enhance 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 Cumberland Building Society

Banks and building societies frequently change their requirements. The BSA instructions from Cumberland 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 2010, Cumberland Building Society has made 78 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 35.0 days. In total, 34% of the sections of the BSA Requirements for Cumberland Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
B.13 05/03/2019 BSA
C.19 05/03/2019 BSA
C.20 05/03/2019 BSA
D.31 05/03/2019 BSA
E.1 05/03/2019 BSA
E.10 05/03/2019 BSA
F.9 05/03/2019 BSA
B.3 05/03/2019 BSA
F.19 24/04/2018 BSA
D.34 24/08/2016 BSA

Last update 16/10/2019

Frequently asked questions relating to the Cumberland Building Society Solicitor Panel from members of the public

My mortgage broker has says he needs my lawyer’ panel member for the Cumberland Building Society conveyancing panel. What is the best way to obtain this. I have tried my local Cumberland Building Society office but they cant find it on their system.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Cumberland Building Society panel reference.
Our son is buying a house that has just been built with a home loan from Cumberland Building Society. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Cumberland Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked.

The Developer will be required to start the process by downloading the form and completing it.

The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Cumberland Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

I have been looking for conveyancing quotes online. Can I be confident that all the firms that are identified on your website are on the Cumberland Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the Cumberland Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Cumberland Building Society panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Cumberland Building Society conveyancing panel is not accurate.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Cumberland Building Society Solicitor panel prior to completion?
The first thing to point out is that, this is very unlikely to happen. 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 for a fee.
What are the common reasons for a lender such as Cumberland Building Society to withdraw a mortgage offer?
Lenders such as Cumberland Building Society can revoke their mortgage offer although this rarely happens. should Cumberland 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 few examples:
  • Cumberland Building Society may amend or withdraw an offer if the Cumberland Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
  • If the financial circumstances of the borrower have changed to the detriment and the Cumberland Building Society has been notified
  • A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
We expect to receive a DIP from Cumberland 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 Cumberland Building Society recommend a solicitor on the Cumberland 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 Cumberland Building Society conveyancing panel. The solicitor represents both you and the Cumberland Building Society through the process.
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Cumberland Building Society are being problematic. The solicitor who is on the Cumberland Building Society conveyancing panel is recommending indemnity insurance as a solution but Cumberland Building Society are requiring a building regulation certificate. Why do Cumberland Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Cumberland Building Society have referred the matter to their valuer. The reason why Cumberland Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.