Earl Shilton Building Society Conveyancing Lender Panel Compliance Tool

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

This software facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on Earl Shilton Building Society’s changes. Even though using the software is not a prerequisite for Earl Shilton Building Society , demonstrating you can stay up to date with Earl Shilton Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

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Mortgage companies often change their requirements. The UK Finance Lenders’ Handbook requirements from Earl Shilton 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, Earl Shilton Building Society has made 150 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 18.2 days. In total, 67% of the sections of P2 of the UK Finance Lenders’ Handbook for Earl Shilton 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
5.14.1 01/12/2014 CML
5.5.1b 01/12/2014 CML
17.2.1b 12/07/2013 CML
5.4.6 12/09/2012 CML Local Search Indemnity Insurance
14.2.1 01/12/2010 CML
16.5.3b 01/12/2010 CML
5.14.10 01/12/2010 CML
5.15.2b 01/12/2010 CML
5.5.3a 01/12/2010 CML Lack of Planning Permission Indemnity Insurance
6.12.1 01/12/2010 CML

Last update 15/11/2018

Common questions asked concerning the Earl Shilton Building Society Conveyancing Panel from members of the public

My Solicitor has never been on on the Earl Shilton Building Society Solicitor Panel. Can I still retain my family solicitor even though they are excluded from the Earl Shilton Building Society panel?
You will need to have a conveyancer complete the legal work required when you take out a Earl Shilton Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Earl Shilton Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Earl Shilton Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Earl Shilton Building Society will not agree to this. Why was Earl Shilton Building Society even consulted?
Your lawyer being on the Earl Shilton Building Society conveyancing panel is duty bound to inform Earl Shilton Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Earl Shilton Building Society then they would have to discontinue acting for you and Earl Shilton Building Society.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Earl Shilton Building Society conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
What happens if my lawyer’s firm is removed from the Earl Shilton Building Society Solicitor panel prior to the moving date as agreed at exchange of contracts?
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 at a cost.
Are all Conveyancing Quality Solicitors on the Earl Shilton Building Society conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
is it true that all conveyancing solicitors on the Earl Shilton Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Earl Shilton Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Earl Shilton Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Earl Shilton Building Society or your broker and complete any relevant paperwork. Earl Shilton Building Society will tell you what documents they want. Earl Shilton Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Earl Shilton Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.