Furness Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. It 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 using COMPLETIONmonitor is not a prerequisite for Furness Building Society , demonstrating you can remain up to date with Furness Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your firm’s panel standing.

The software generates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Furness Building Society

Mortgage companies frequently change 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 160 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 17.1 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.

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Examples of recent questions relating to the Furness Building Society Solicitor Panel from members of the public

I appointed a solicitor to work on my remortgage three weeks ago having applied for a mortgage with Furness Building Society. The law firm confirmed to me that they are on Furness Building Society conveyancing panel and provided me their panel number. Furness 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 Furness 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 Furness Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Furness Building Society as to how long they think it will take to get the firm to get back on the panel.
I am buying a newly built apartment and my lawyer is informing me that she has to reveal incentives from the builder as her firm is on the Furness Building Society conveyancing panel. I am under pressure to exchange and I have no desire to delay deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a house and need a conveyancing solicitor in Leeds who is on the Furness Building Society solicitor. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Furness Building Society . We don’t recommend any particular firm.
I was scheduled to move into my dream home last Thursday. My solicitor is on the Furness Building Society conveyancing panel but has moved offices 8 weeks ago and had not advised Furness Building Society of their new address. Furness Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Furness Building Society branch or your mortgage broker to see if they can assist.
Are all Conveyancing Quality Solicitors on the Furness 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. The Law Society’s CQS accreditation however is 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.
I was told four weeks ago that my mortgage has been agreed to by Furness Building Society. Is it usual for Furness Building Society to only issue the offer once my solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Furness Building Society to deal with your lawyers application to be on the Furness Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.
My offer on house has been 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 Furness 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 Furness 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 Furness Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.