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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 web-based pre- and post-completion checklist for property lawyers. It is supported by PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation 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. Notwithstanding that using the tool is not a prerequisite for Monmouthshire Building Society , demonstrating you can remain up to date with Monmouthshire Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, safeguard your panel standing.

The system 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 many firms, leads to a PII saving.

Find a Law Firm approved by Monmouthshire Building Society

Mortgage companies often 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, over time:

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 Solicitor Panel from members of the public

I appointed a law firm to work on my remortgage 5 weeks ago having applied for a mortgage with Monmouthshire Building Society. The solicitors reassured me that they are on Monmouthshire Building Society conveyancing panel and provided me their panel reference. Monmouthshire Building Society then called me to say that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor currently on the conveyancing panel for Monmouthshire Building Society?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Monmouthshire Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Monmouthshire Building Society as to the time frame to get your lawyer reinstated on the panel once again.
I do hope you can help me. My solicitor is assuring me that he has to apply for a Local Authority search because the firm are on the Monmouthshire Building Society approved lawyer panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Monmouthshire Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Monmouthshire Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Monmouthshire Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Monmouthshire Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
We're in London, First timers buying with a mortgage (lender is Monmouthshire Building Society , but our solicitor is on the Monmouthshire Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Monmouthshire 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 Monmouthshire Building Society conveyancing panel requirements are different to Monmouthshire Building Society’s conveyancing panel requirements.
We have a mortgage agreed in principle with Monmouthshire Building Society. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Monmouthshire Building Society?
There is no definitive answer here. Have Monmouthshire Building Society done the survey? Have you advised Monmouthshire Building Society as your lawyers details and checked that your lawyer is on the Monmouthshire Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Monmouthshire Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Monmouthshire Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Monmouthshire Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.

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