Dudley 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. It is a unique risk management tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Dudley Building Society’s changes. While using the tool is not a condition for acceptance on the Dudley Building Society panel, demonstrating you can remain up to date with Dudley Building Society’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel status.

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 Dudley Building Society

Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Dudley 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, Dudley Building Society has made 141 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 19.4 days. In total, 57% of the sections of P2 of the UK Finance Lenders’ Handbook for Dudley Building Society have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
4.1 01/12/2014 CML
10.11 27/06/2011 CML
6.14.1b 27/06/2011 CML
6.6.3 27/06/2011 CML
6.7.2 27/06/2011 CML
8.1 27/06/2011 CML
3.1.6 24/06/2011 CML
5.4.4 24/06/2011 CML
12.3.1 01/12/2010 CML
16.4.1 01/12/2010 CML

Last update 25/05/2019

FAQs for the Dudley Building Society Conveyancing Panel from members of the public

I appointed a law firm to work on my purchase 4 weeks ago having applied for a mortgage with Dudley Building Society. The law firm assured me that they are on Dudley Building Society conveyancing panel and provided me their panel number. Dudley Building Society then called me to say that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor listed on the approved panel for Dudley Building Society?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Dudley Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Dudley Building Society as to the time frame to get your lawyer reinstated on the panel once again.
My son is buying a newly built flat with a home loan from Dudley Building Society. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Dudley Building Society conveyancing panel as a standard part of the process, and to the valuer when requested.

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 Dudley 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 need to find a Dudley Building Society panel solicitor in Stirling. Can you assist?
Unfortunately it’s not apparent why you need a Dudley Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Dudley Building Society to find out which solicitors in Dudley Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
Can you clarify what the consequences are if my solicitor is removed from the Dudley Building Society Conveyancing panel prior to the completion date?
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.
What are the common reasons for a lender such as Dudley Building Society to withdraw a mortgage offer?
Lenders such as Dudley Building Society can revoke their mortgage offer although this is unusual. If Dudley Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a few examples:
  • Many mortgage offers have an expiry date. Your lawyer should check this. Dudley 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.
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Following advice from the property assessor 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
  • Where the lender has to take account a recent change in taxation
  • 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
We were going to get a DIP from Dudley Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Dudley Building Society recommend a solicitor on the Dudley 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 Dudley Building Society conveyancing panel. The solicitor represents both you and the Dudley Building Society through the process.
Completion of my remortgage has taken place with a mortgage from Dudley Building Society. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Dudley Building Society. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the Dudley Building Society branches or the Customer Care Department at Dudley Building Society head office. Ordinarily complaints to Dudley Building Society are sorted out very quickly. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.