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

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. It is supported by PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This software assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Monmouthshire Building Society’s changes. Even though utilising COMPLETIONmonitor is not a condition for acceptance on the Monmouthshire Building Society panel, demonstrating you can remain up to date with Monmouthshire Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your firm’s panel status.

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

Find a Law Firm approved by Monmouthshire Building Society

Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Monmouthshire 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 2008, Monmouthshire Building Society has made 417 revisions or additions to sections of their version of the UK Finance Handbook.
That equates to a section change every 6.5 days. In total, 85% of the sections of P2 of the UK Finance Lenders’ Handbook for Monmouthshire Building Society have been changed since 15/12/2008.

To find out more about lender panel compliance,
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Q and A’s regarding the Monmouthshire Building Society Conveyancing Panel from members of the public

My partner and I are FTBs. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Monmouthshire Building Society have this evening contacted us to advise us that there is now an issue as our conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.

In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyers should contact Monmouthshire Building Society and see if they can apply for membership of the Monmouthshire Building Society conveyancing panel, but if that is not viable Monmouthshire Building Society will instruct their own lawyers to represent them. You don't have to instruct a firm on the Monmouthshire Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.

We are nearing 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 make a notification to my lender Monmouthshire Building Society. I am advised that, being on the Monmouthshire Building Society conveyancing panel and acting on their behalf he must inform Monmouthshire Building Society if the balance of the mortgage advance is coming from anyone other than me. I advised 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 Monmouthshire 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 Monmouthshire Building Society if you agree, failing which, your lawyer must cease to continue acting.
How up to date is your database of lawyers on the Monmouthshire Building Society conveyancing panel? Do Monmouthshire Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Monmouthshire Building Society conveyancing panel as opposed to being supplied with a list from Monmouthshire Building Society directly.
I am buying a terraced house and getting a mortgage with Monmouthshire Building Society. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Monmouthshire 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 Monmouthshire Building Society conveyancing panel in your location.
I have paid off my mortgage with Monmouthshire Building Society. I assume I don't need a solicitor on the Monmouthshire Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Monmouthshire Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Monmouthshire Building Society mortgage from the register. Monmouthshire Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Monmouthshire Building Society has sent the Land Registry the discharge electronically, and the Monmouthshire Building Society has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Monmouthshire Building Society mortgage has been paid off.
I was told two weeks ago that my mortgage has been agreed to by Monmouthshire Building Society. Is it usual for Monmouthshire Building Society to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Monmouthshire Building Society to deal with your lawyers application to be on the Monmouthshire Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.
Monmouthshire Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Monmouthshire Building Society or your broker and complete any relevant paperwork. Monmouthshire Building Society will tell you what documents they want. Monmouthshire Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Monmouthshire Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.

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