Loughborough Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk management tool.

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

COMPLETIONmonitor creates 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, leads to reduced PII premiums.

Find a Law Firm approved by Loughborough Building Society

Lenders frequently change their requirements. The BSA instructions from Loughborough Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes


Since 2010, Loughborough Building Society has made 45 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 60.7 days. In total, 36% of the sections of the BSA Requirements for Loughborough Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Loughborough Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

My Solicitor is not on the Loughborough Building Society Approved Panel. Is it possible for me to continue with my preferred solicitor even though they are not on the Loughborough Building Society panel of approved conveyancing solicitors?
You have a number of options available to you here:
  1. Complete the purchase with your preferred solicitors but Loughborough Building Society will need to instruct a lawyer on the Loughborough Building Society conveyancing panel. This will result in additional cost and potential delay.
  2. Get a new solicitor to act in the purchase, obviously checking they are on the Loughborough Building Society conveyancing panel.
  3. Urge your lawyer to apply to join the Loughborough Building Society lender panel
We are getting closer to an exchange and my mum and dad having sent 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 Loughborough Building Society. I am advised that, being on the Loughborough Building Society conveyancing panel and acting on their behalf he must inform Loughborough Building Society if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Loughborough Building Society 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 Loughborough Building Society if you agree, failing which, your lawyer must cease to continue acting.
I am looking to buy a flat and require a conveyancing solicitor in Liverpool who is on the Loughborough Building Society solicitor. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Loughborough Building Society . We don’t recommend any particular firm.
I am buying a garden flat and getting a mortgage with Loughborough Building Society. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Loughborough 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 Loughborough Building Society conveyancing panel in your location.
When it comes to lenders such as Loughborough Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Do conveyancing lawyers on the Loughborough Building Society conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Can I be sure that the solicitor on the Loughborough Building Society panel is any good?
Getting recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your conveyancing