Monmouthshire Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Monmouthshire Building Society’s changes. Notwithstanding that using this technology is not a condition for being on the Monmouthshire Building Society panel, demonstrating you can remain up to date with Monmouthshire Building Society’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for some 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 415 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,

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

My fiance and I are hoping to buy a 1 bedroom apartment in London with a mortgage from Monmouthshire Building Society. We would like to retain our lawyer but Monmouthshire Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Monmouthshire Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Monmouthshire Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Monmouthshire Building Society
My conveyancer has spotted a difference when comparing the surveyor’s assumptions in Monmouthshire Building Society’s valuation report and what is in the conveyancing documents. My lawyer has advised that as he is on the Monmouthshire Building Society conveyancing panel he is obliged to check that the bank is with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
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 law firm practices 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 would like to get my former partner taken off the mortgage deeds. Can Monmouthshire Building Society really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Monmouthshire Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Monmouthshire Building Society solicitors panel
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Monmouthshire Building Society conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme 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 remain on their approved list of conveyancing solicitors.
We have agreed a price on a house I spoke to a solicitor previously used by my dad and he recommended retaining a law firm approved by Monmouthshire Building Society. The estate agent recommended two local firms so I asked Monmouthshire Building Society if the 2 suggested solicitors are approved, which they are not. Monmouthshire Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Monmouthshire Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Monmouthshire Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Monmouthshire Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Monmouthshire Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Monmouthshire Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I recently had an offer accepted on a house. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Monmouthshire Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Monmouthshire Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.