Monmouthshire Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This software optimises the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on Monmouthshire Building Society’s changes. Even though using this technology is not a condition for acceptance on the Monmouthshire Building Society panel, demonstrating you can stay up to date with Monmouthshire Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your panel status.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Monmouthshire Building Society

Lenders frequently change 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 413 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 6.6 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,

Book a Personalised Demo

Recent Changes Include

# Date Assoc. Changes Related To
14.1.5 27/03/2019 CML
17.1.1 07/03/2019 CML
3.2.3 07/03/2019 CML
5.14.13 07/03/2019 CML
5.15.2b 07/03/2019 CML
6.7.2 07/03/2019 CML
6.9.1 07/03/2019 CML Unknown Rights and Easements Indemnity Insurance
5.20.4 07/03/2019 CML
10.9 11/10/2018 CML
5.13.1 11/10/2018 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance

Last update 15/07/2019

Monmouthshire Building Society Conveyancing Panel : Questions and Answers from members of the public

My IFA has asked me for my solicitor’s panel reference for the Monmouthshire Building Society conveyancing panel. What is the best way to discover this. I have tried my local Monmouthshire Building Society office but they don't know it.
Have you tried speaking to your lawyer about this?. They should have a central record lender panel numbers including the Monmouthshire Building Society panel reference.
Our solicitor has identified a legal deficiency with the lease for the property we are buying. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the Monmouthshire Building Society conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Monmouthshire Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Monmouthshire Building Society are the client. A precondition to being on the Monmouthshire Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Monmouthshire Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Monmouthshire Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I require the services of a Monmouthshire Building Society panel solicitor in Stirling. Could you help me?
It is not clear why you need a Monmouthshire Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Monmouthshire Building Society to find out which solicitors in Monmouthshire Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I am considering mortgaging my home does my lawyer have to be on the Monmouthshire Building Society Conveyancing panel?
There is nothing to stop you using your solicitor but Monmouthshire Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Are all Conveyancing Quality Solicitors on the Monmouthshire Building Society conveyancing panel?
Some major banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
When it comes to mortgage companies such as Monmouthshire 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.
I have instructed a lawyer having checked that they are on the Monmouthshire Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've digested plenty 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 Monmouthshire Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Monmouthshire Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Monmouthshire 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 Monmouthshire Building Society you could contact your them to see if they have a list of approved surveyors.