Leek United BS 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 management tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Leek United BS’s changes. Notwithstanding that utilising COMPLETIONmonitor is not a condition for acceptance on the Leek United BS panel, demonstrating you can stay up to date with Leek United BS’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Leek United BS

Mortgage companies often vary their requirements. The BSA instructions from Leek United BS 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, Leek United BS has made 17 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 160.6 days. In total, 9% of the sections of the BSA Requirements for Leek United BS have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
F.9 30/01/2020 BSA
C.12 30/09/2019 BSA
C.12 31/07/2019 BSA
C.12 29/04/2019 BSA
C.12 11/04/2017 BSA
C.12 23/08/2016 BSA
D.24 01/08/2016 BSA
E.12 21/03/2016 BSA
B.13 23/03/2015 BSA
C.12 09/03/2015 BSA

Last update 02/04/2020

Leek United BS Conveyancing Panel : Questions and Answers from members of the public

I am expecting a mortgage offer from Leek United BS. my intention is to retain the legal services of a Licensed Conveyancer. Does the Leek United BS Solicitor panel exclude conveyancers regulated by the CLC
Leek United BS’s conveyancing panel is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We are approaching an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Leek United BS. Apparently, being on the Leek United BS conveyancing panel and acting on their behalf he must inform Leek United BS if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Leek United BS to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Leek United BS if you agree, failing which, your lawyer must cease to continue acting.
Do I need to pop into the offices of the Leek United BS conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Bristol so that I can attend their offices when needed.
Most conveyancing panel lawyers for Leek United BS undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My lawyers in Liverpool have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Leek United BS. Is it case that being on the Leek United BS conveyancing panel they need to have retained the file for a prescribed period?
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 Leek United BS Conveyancing Panel Terms. It might be worth you contacting Leek United BS directly.
I previously instructed online conveyancers located in London who are on the Leek United BS solicitor panel. They are now charging me a separate fee of £135 for dealing with the Leek United BS mortgage. Is this a supplemental conveyancing fee set by Leek United BS?
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 Leek United BS but by your lawyers. Some firms on the Leek United BS will charge an ‘acting for lender’ fee and others do not.
I was told four weeks ago that my mortgage has been agreed to by Leek United BS. Is it usual for Leek United BS 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 Leek United BS to deal with your lawyers application to be on the Leek United BS 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 booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Leek United BS?
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 Leek United BS 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 Leek United BS and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.