Family Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Family Building Society’s changes. While using the tool is not a condition for acceptance on the Family Building Society panel, demonstrating you can remain up to date with Family Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, safeguard your panel status.

COMPLETIONmonitor creates 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 many firms, results in reduced PII premiums.

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Mortgage companies frequently vary 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, frequently:

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.

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Recent Changes Include

# Date Assoc. Changes Related To
5.14.9 15/04/2019 CML
5.20.3 01/08/2017 CML
6.7.1 01/03/2017 CML
14.2.2 08/12/2016 CML
3.1.4 01/12/2014 CML
5.5.1b 01/12/2014 CML
6.14.3 01/12/2014 CML
6.14.1 01/12/2014 CML
3.1.3 01/12/2014 CML
3.1.5 01/12/2014 CML

Last update 20/07/2019

Q and A’s regarding the Family Building Society Solicitor Panel from members of the public

I appointed a firm of solicitors to conduct the legal paperwork on my remortgage 4 weeks ago having applied for a mortgage with Family Building Society. The firm confirmed to me that they are on Family Building Society conveyancing panel and gave me their panel number. Family Building Society then ,via my broker advised that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm currently on the conveyancing panel for Family 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 Family Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Family Building Society as to the time frame to get your lawyer reinstated on the panel once again.
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 note that you have a post code search directory listing solicitors on the Family Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for my 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.
I am considering applying for a Family Building Society mortgage for purchase of a newly converted (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Family Building Society?
There is nothing to stop you using your solicitor but Family Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
In what circumstances might Family Building Society amend or withdraw their mortgage offer?
Lenders such as Family Building Society can revoke their mortgage offer although this is unusual. should Family 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 5 examples:
  • Where information comes to Family Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
  • Family Building Society may amend or withdraw an offer if the Family 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
  • Many mortgage offers have an expiry date. Your lawyer should check this. Family 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.
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
The mortgage over my property is with Family Building Society. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Family Building Society?
You must advise Family Building Society prior to renting your property as this is likely to be a breach of Family Building Society’s mortgage conditions. It may be that Family Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Family Building Society directly. It should not be necessary to do this via a Family Building Society conveyancing panel solicitor.
I have instructed a lawyer having made sure that they are on the Family Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Family Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Family Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Family Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Family Building Society you could contact your them to see if they have a list of approved surveyors.