Ipswich Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on Ipswich Building Society’s changes. While using the tool is not a condition for acceptance on the Ipswich Building Society panel, demonstrating you can remain up to date with Ipswich Building Society’s Handbook requirements is a helpful support to your panel application and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Ipswich Building Society

Banks and building societies often vary their requirements. The BSA instructions from Ipswich 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 2010, Ipswich Building Society has made 38 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 71.8 days. In total, 35% of the sections of the BSA Requirements for Ipswich Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Ipswich Building Society Solicitor Panel Recently Asked Questions from members of the public

I have just been informed by my mortgage adviser that my lawyer is not on the Ipswich Building Society Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the the approved Ipswich Building Society solicitor panel.
My solicitor has spotted a difference when comparing the surveyor’s assumptions in Ipswich Building Society’s valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that as he is on the Ipswich Building Society conveyancing panel he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach legitimate?
A precondition to being on the Ipswich Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ipswich 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 both parties.
I note that you have a post code search directory identifying firms on the Ipswich Building Society conveyancing panel. Do firms pay you a referral fee 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 Ipswich Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My solicitors in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Ipswich Building Society. Is it case that being on the Ipswich Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Ipswich Building Society Conveyancing Panel Terms. It might be worth you contacting Ipswich Building Society directly.
Can you point me to a directory of Ipswich Building Society panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
It is not clear whether my mortgage offer requires a lease extension . I have called Ipswich Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Ipswich Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Ipswich Building Society panel she or he must comply with the CML Handbook requirements for Ipswich Building Society. Unless your lawyer obtains specific confirmation in writing that Ipswich Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Ipswich Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I was told two weeks ago that my mortgage has been agreed to by Ipswich Building Society. Is it usual for Ipswich Building Society to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Ipswich Building Society to deal with your lawyers application to be on the Ipswich Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.