Furness Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Furness Building Society’s changes. Even though utilising this technology 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 firm’s panel status.

The software creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in a PII saving.

Book a Furness Building Society Panel Compliance Demo

Banks and building societies 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,

Book a Personalised Demo

Recent Changes Include

# Date Assoc. Changes Related To
3.1.6 01/12/2014 CML
verification of identity
3.1.5 01/12/2014 CML
ID Documentation
Furness Building Society approved lawyers requirements re ID Documentation: Further acceptable documents (if any)
5.20.3 10/07/2012 CML
Panels PV Solar
Existence of additional requirements set by Furness Building Society for approved lawyers relating to leases of roof space for solar PV panels, and if so, what they are.
1.14 01/12/2010 CML
General Mortgage Instructions
Can the approved conveyancing firm act for Furness Building Society if the person dealing with the conveyancing or a member of his immediate family is the seller?
5.14.10 01/12/2010 CML
Leasehold Conveyancing
Furness Building Society panel lawyers leasehold conveyancing requirements : contact for service charge matters
5.15.2a 01/12/2010 CML
Leasehold Conveyancing : Management Company
Contact details at Furness Building Society for approved lawyers for apparent problems with the management company.
5.5.1a 01/12/2010 CML
requirements in terms of time for planning consents
5.5.4 01/12/2010 CML
Planning Permission and Building Regulations : Restrictions
Contact details at Furness Building Society for approved lawyers where the property is subject to restrictions which may affect its value or marketability
Restrictive Covenant Indemnity Insurance
6.4.5 01/12/2010 CML
Full monies through the firm's account
Contact details at Furness Building Society for conveyancing panel lawyers were the law firm will not have control over the payment of all the purchase money.
6.9.1 01/12/2010 CML
Easements
Contact details at Furness Building Society for approved lawyers if necessary easements are absent
Unknown Rights and Easements Indemnity Insurance

Last update 09/11/2018

FAQs : The Furness Building Society Conveyancing Panel from members of the public

I am getting a mortgage offer from Furness Building Society. I would like to instruct a Licensed Conveyancer. Does the Furness Building Society Conveyancing panel include conveyancers regulated by the CLC
Furness Building Society’s conveyancing panel is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
My lawyer has identified an inconsistency between the information in Furness Building Society’s valuation report and what is revealed within the title deeds. My solicitor says that as he is on the Furness Building Society conveyancing panel he is duty bound to check that the lender is with this discrepancy and is still content to lend. Is my lawyer’s approach correct?
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.
I note that you have a post code search directory identifying law firms on the Furness Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Furness Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am buying a semi-detached house and getting a mortgage with Furness Building Society. Can I do my own 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.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Furness Building Society conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives 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 join their panels.
I am currently in the process of buying my council flat. I have a mortgage agreed with Furness Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Furness Building Society you will need to appoint a solicitor on the Furness Building Society conveyancing panel.
Intending to buy a flat with a mortgage with Furness Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Furness Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Furness Building Society conveyancing panel