Furness Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This system facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Furness Building Society’s changes. Even though utilising the tool is not a condition for acceptance on the Furness Building Society panel, demonstrating you can remain up to date with Furness Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your panel status.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Furness Building Society

Lenders often vary their requirements. The UK Finance Lenders’ Handbook requirements from Furness 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, Furness Building Society has made 159 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 17.2 days. In total, 43% of the sections of P2 of the UK Finance Lenders’ Handbook for Furness 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
6.7.1 13/03/2018 CML
3.1.6 01/12/2014 CML
4.1 01/12/2014 CML
5.5.1b 01/12/2014 CML
17.2.1a 01/12/2010 CML
4.1 01/12/2010 CML
5.15.2c 01/12/2010 CML
5.5.3c 01/12/2010 CML
6.2.1 01/12/2010 CML
6.8.1 01/12/2010 CML Adoption of Road or Sewer Indemnity Insurance

Last update 08/01/2019

Furness Building Society Solicitor 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 Furness Building Society conveyancing panel. Is it advisable to appoint a new law firm?
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.
My solicitor has uncovered a difference between the information in Furness Building Society’s valuation survey and what is revealed within the conveyancing documents. My lawyer says that as he is on the Furness Building Society conveyancing panel he is obliged to ensure that the lender is happy with this discrepancy and is content go ahead. Is my conveyancer’s approach right?
A precondition to being on the Furness Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Furness Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is it necessary during the course of the conveyancing process to pop into the offices of the Furness Building Society conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Liverpool so that I can pop in to their offices if necessary.
As opposed to 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool .
I am purchasing a semi-detached house and getting a mortgage with Furness Building Society. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Furness Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Furness Building Society conveyancing panel in your location.
I'm at the point of viewing houses and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Furness Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Furness Building Society , ask your prospective lawyers check they are on the Furness Building Society conveyancing panel otherwise they can't do the mortgage legal work.
I am selling my apartment. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Furness Building Society are being difficult. The solicitor who is on the Furness Building Society conveyancing panel is saying indemnity insurance will be fine but Furness Building Society are insisting on a building regulation certificate. Why do Furness Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Furness Building Society have referred the matter to their valuer. The reason why Furness 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.
Furness 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 Furness Building Society or your broker and complete any relevant paperwork. Furness Building Society will tell you what documents they want. Furness 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. Furness 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.