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Ipswich 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 Ipswich Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Ipswich 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. It is a unique risk management tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Ipswich Building Society’s changes. While utilising COMPLETIONmonitor is not a prerequisite for Ipswich Building Society , demonstrating you can stay up to date with Ipswich Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, safeguard your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Ipswich Building Society

Mortgage companies frequently 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 55 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 49.6 days. In total, 40% of the sections of the BSA Requirements for Ipswich Building Society have been changed since 26/1/2010.

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Common questions asked concerning the Ipswich Building Society Conveyancing Panel from members of the public

Is the fact that my conveyancer is not on the Ipswich Building Society Conveyancing panel that there is a problem with the quality of her work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Ipswich Building Society.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Ipswich Building Society will not agree to this. Why was Ipswich Building Society even consulted?
Your lawyer being on the Ipswich Building Society conveyancing panel is duty bound to inform Ipswich Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Ipswich Building Society then they would have to discontinue acting for you and Ipswich Building Society.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Ipswich Building Society conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Manchester so that I can pop in to their offices if necessary.
Whereas this was necessary 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 Manchester .
What happens if my lawyer’s firm is suspended from the Ipswich Building Society Solicitor panel in advance of the completion date?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I had instructed online conveyancers located in Bristol who are on the Ipswich Building Society solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the Ipswich Building Society mortgage. Is this a supplemental conveyancing fee set by Ipswich Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Ipswich Building Society but by your lawyers. Some firms on the Ipswich Building Society will charge an ‘acting for lender’ fee and others do not.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Ipswich Building Society conveyancing panel requirements are different to Ipswich Building Society’s conveyancing panel criteria.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Ipswich Building Society be concerned
Given that you are obtaining a mortgage with Ipswich Building Society your lawyer must to check the Ipswich Building Society conveyancing instructions contained in the Part of CML Handbook for Ipswich Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Ipswich Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.

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