Loughborough 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 Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This system assists the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Loughborough Building Society’s changes. While utilising this technology is not a condition for acceptance on the Loughborough Building Society panel, demonstrating you can stay up to date with Loughborough Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your panel standing.

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

Find a Law Firm approved by Loughborough Building Society

Lenders often 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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Recent Changes Include

# Date Assoc. Changes Related To
D.13 05/12/2018 BSA
Conveyancing Searches: Personal Searches and/or insurance
Loughborough Building Society panel lawyers clarification as to whether they accept personal searches/insurance and, if yes, the Loughborough Building Society requirements
D.43 05/12/2018 BSA
Leasehold Conveyancing
Loughborough Building Society approved lawyers leasehold conveyancing requirements : acceptability of indemnity insurance where the terms of the lease are unsatisfactory
D.13 23/11/2018 BSA
Conveyancing Searches: Personal Searches and/or insurance
Loughborough Building Society panel lawyers clarification as to whether they accept personal searches/insurance and, if yes, the Loughborough Building Society requirements
D.32 14/10/2016 BSA
Commonhold
Loughborough Building Society panel lawyers clarification as to whether they lend where the title is commonhold
C.12 14/10/2016 BSA
New Build Conveyancing
Loughborough Building Society panel conveyancer requirements for New Build Conveyancing : Home Warranty Schemes
A.12 14/10/2016 BSA
Conveyancing Panel
Loughborough Building Society conveyancing panel criteria
C.10 29/01/2014 BSA
Tenancy Agreements
Does Loughborough Building Society need to be sent a copy of the proposed tenancy?
C.19 29/01/2014 BSA
Roads and Sewers
Loughborough Building Society requirements for approved lawyers for unadopted roads or sewers
C.21 29/01/2014 BSA
Easements
Loughborough Building Society requirements for conveyancing panel lawyers for lack of enforcability of necessary easements
D.57 29/01/2014 BSA
Defective Title Insurance
Loughborough Building Society clarification to panel lawyers clarification as to limit of indemnity insurance Loughborough Building Society require

Last update 19/05/2019

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

My financial adviser has informed me that I have to pay Loughborough Building Society fees if I use my own solicitor. How efficient are the Loughborough Building Society conveyancing panel solicitors? I dont care which law firm I use as long as they're good and reasonably priced. Are there any Loughborough Building Society conveyancers you'd recommend?
Loughborough Building Society’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Loughborough Building Society will allow to act for them.
Our lawyer has identified a legal deficiency with the lease for the apartment we are buying. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the Loughborough Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Loughborough Building Society?
Just because you have a mortgage offer from Loughborough Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Loughborough Building Society are the client. These conveyancing instructions have to be complied with by the Loughborough Building Society conveyancing panel who has to balance acting for you and Loughborough Building Society
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Loughborough Building Society conveyancing panel. My lawyer has said that they are on the Loughborough Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Loughborough Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Loughborough Building Society solicitor panel.
We're in Birmingham, First timers buying with a mortgage (lender is Loughborough Building Society , but our solicitor 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
Is it the case that all conveyancing solicitors on the Loughborough Building Society conveyancing panel work on a no move no charge 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
How can we tell if a solicitor on the Loughborough Building Society panel is any good?
seeking recommendations is a good start. 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 recommend that you speak with the solicitor conducting your conveyancing
My brother and I are purchasing a terraced house in Hendon. Conveyancing solicitors in Hendon will soon beretained. My friendrecommended that we enquire that the conveyancer in Hendon is on the Loughborough Building Society panel. Is this right?
Far from all Hendon conveyancing firms are on the Loughborough Building Society conveyancing panel. 8 people a month use our search tool to search for a Hendon conveyancing solicitor on the on the Loughborough Building Society list of approved conveyancing firms.