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Loughborough 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 Loughborough Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Loughborough Building Society Conveyancing Panel?
Check your firm’s panel Status

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. It is supported by PI insurers. COMPLETIONmonitor 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 requirements, with alerts on Loughborough Building Society’s changes. While utilising COMPLETIONmonitor is not a condition for being on the Loughborough Building Society panel, demonstrating you can remain up to date with Loughborough Building Society’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Loughborough Building Society

Banks and building societies frequently vary 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, frequently:

A Timeline of Policy Changes


Since 2010, Loughborough Building Society has made 59 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 46.3 days. In total, 40% 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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Q and A’s regarding the Loughborough Building Society Solicitor Panel from members of the public

I am progressing with the sale of my house and the EA has just e-mailed to say that the purchasers are changing their law firm. The reason given is that Loughborough Building Society will only deal with property lawyers on their conveyancing panel. Why would a major lender only engage with certain law firms?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

Our grandson is about to exchange on a newly built flat with a home loan from Loughborough Building Society. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Loughborough Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked.

The Developer will be required to start the process by downloading the form and completing it.

The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Loughborough Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

How do I find a local solicitor on the Loughborough Building Society conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the lawyer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Loughborough Building Society solicitor panel.
We're in Wales, FTBs buying with a mortgage (lender is Loughborough Building Society , but our lawyer is on the Loughborough Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Loughborough Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do most banks 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 Loughborough Building Society conveyancing panel requirements are different to Loughborough Building Society’s conveyancing panel requirements.
In what circumstances might Loughborough Building Society amend or withdraw their mortgage offer?
Lenders such as Loughborough Building Society can withdraw their mortgage offer although this is unusual. If Loughborough Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
  • If the financial circumstances of the borrower have changed to the detriment and the Loughborough Building Society has been notified
  • Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Loughborough Building Society conveyancing panel solicitors would be obliged to notify Loughborough Building Society of a change in the price of the property.
  • A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
After shopping around on the internet I have found a solicitor having made sure that they are on the Loughborough Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Loughborough Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Loughborough Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Loughborough Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Loughborough Building Society you could contact your them to see if they have a list of approved surveyors.