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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 property lawyers. It is supported by PI insurers. It is a unique risk management tool.

This system is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with alerts on Monmouthshire Building Society’s changes. Notwithstanding that using the software is not a prerequisite for Monmouthshire Building Society , demonstrating you can stay up to date with Monmouthshire Building Society’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP 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

Banks and building societies 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, 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 need to swap lawyers as my lawyer is not on the Monmouthshire Building Society panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
I am buying a newly built duplex and my conveyancer is advising me that she has to reveal incentives from the builder as her practice is on the Monmouthshire Building Society conveyancing panel. The Estate Agents are hassling me to exchange contracts and I would rather not delay deal. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. 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 Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Monmouthshire Building Society conveyancing panel?
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.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Monmouthshire Building Society Solicitor panel before the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What are the common reasons for a lender such as Monmouthshire Building Society to withdraw a mortgage offer?
Banks and Building Societies such as Monmouthshire Building Society can withdraw their mortgage offer although this is unusual. should Monmouthshire Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
  • If the financial circumstances of the borrower have changed to the detriment and the Monmouthshire Building Society has been notified
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where the lender has to take account a recent change in taxation
  • If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
  • If the solicitor on the Monmouthshire Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Monmouthshire Building Society ‘s instructions
We expect to receive a DIP from Monmouthshire Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Monmouthshire Building Society recommend a solicitor on the Monmouthshire Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Monmouthshire Building Society conveyancing panel. The solicitor represents both you and the Monmouthshire Building Society through the process.
My brother and I are remortgaging a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon will soon begiven the go-ahead. My fathersuggested that we check that the conveyancer in Hendon is on the Monmouthshire Building Society solicitors panel. Surely I don't need to do this, do I?
Far from all Hendon conveyancing practices are on the Monmouthshire Building Society conveyancing panel. 8 people a month use our search tool to search for a Hendon conveyancing firm on the on the Monmouthshire Building Society approved list of lawyers.

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