Family Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. It is a unique risk mitigation tool.

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

COMPLETIONmonitor generates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Family Building Society

Banks and building societies often change their requirements. The UK Finance Lenders’ Handbook requirements from Family 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, Family Building Society has made 32 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 85.3 days. In total, 15% of the sections of P2 of the UK Finance Lenders’ Handbook for Family 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
5.14.9 15/04/2019 CML
5.7.1a 01/08/2017 CML Flying Freehold Indemnity Insurance
6.7.1 01/03/2017 CML
14.2.2 08/12/2016 CML
12.3.1 21/03/2016 CML
16.5.2 21/03/2016 CML
6.7.1 09/10/2015 CML
5.5.1b 01/12/2014 CML
6.14.1 01/12/2014 CML
3.1.3 01/12/2014 CML

Last update 03/09/2019

Family Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

How easy is it to change a solicitor as I need to find one who is on the Family Building Society conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
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 Family Building Society will not agree to this. Why was Family Building Society even consulted?
Your lawyer being on the Family Building Society conveyancing panel is duty bound to inform Family Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Family Building Society then they would have to discontinue acting for you and Family Building Society.
I see that you have a search directory listing solicitors on the Family Building Society conveyancing panel. Do firms pay you a referral fee if I appoint them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Family Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my lawyer’s firm is removed from the Family Building Society Solicitor panel before completion?
First, 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.
Are all solicitors on the Family Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Family 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).
I have a mortgage with Family Building Society. My godfather retired last week and wants to pay off the mortgage left on the property. After Family Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Family Building Society conveyancing panel? I do not intend to live at the property once the Family Building Society mortgage is discharged.
You will need a solicitor but they need not be on the Family Building Society conveyancing panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Family Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Family Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Family Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.