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Furness Building Society Conveyancing Lender Panel Compliance Tool

Looking for information about your firm's panel status?

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How can my firm apply to be on the Furness Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Furness Building Society Conveyancing Panel?
Check your firm’s panel Status

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. It is supported by PI insurers such as AmTrust. It is a unique risk management tool.

This system optimises the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Furness Building Society’s changes. Even though utilising the software 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 application to their lender panel and, just as importantly, safeguard your panel status.

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

Find a Law Firm approved by Furness Building Society

Mortgage companies frequently 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 219 revisions or additions to sections of their version of the UK Finance Handbook.
That equates to a section change every 12.5 days. In total, 44% 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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Furness Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

I am hoping to receive a mortgage offer from Furness Building Society. I hope to employ the services of a Licensed Conveyancer. Does the Furness Building Society Solicitor panel allow for conveyancers regulated by the CLC
Furness Building Society’s conveyancing panel is, like many other lenders associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Our conveyancer has identified a problem with the lease for the property we are purchasing. The other side have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the Furness Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Furness Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Furness Building Society are the client. 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 Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Furness Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
What tools are available to find a local solicitor on the Furness Building Society conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Furness Building Society solicitor panel.
I am buying a right to buy flat and getting a mortgage with Furness Building Society. How practical is it for me to do the conveyancing?
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.
Are all solicitor practices on the Furness Building Society conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Furness Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
For 5 years I had a mortgage with Furness Building Society. My godfather retired last week and wants to pay off the mortgage left on the property. After Furness 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 Furness Building Society conveyancing panel? I do not intend to live at the property once the Furness Building Society mortgage is discharged.
You will need a solicitor but they need not be on the Furness 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.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Furness Building Society are being problematic. The solicitor who is on the Furness Building Society conveyancing panel is recommending indemnity insurance as a solution but Furness Building Society are requiring 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.

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