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Penrith 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 Penrith Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Penrith 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 such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This system is the only way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Penrith Building Society’s changes. Even though using COMPLETIONmonitor is not a prerequisite for Penrith Building Society , demonstrating you can stay up to date with Penrith 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 compliance and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Penrith Building Society

Banks and building societies often vary their requirements. The BSA instructions from Penrith 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 2010, Penrith Building Society has made 28 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 97.5 days. In total, 17% of the sections of the BSA Requirements for Penrith Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,
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Penrith Building Society Conveyancing Panel : Questions and Answers from members of the public

My financial adviser has has requested my law firm’s panel member for the Penrith Building Society conveyancing panel. Can you suggest how I discover this. I have contacted my local Penrith Building Society branch but they cant find it on their system.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Penrith Building Society panel reference.
Much to my surprise my lawyer has informed me that he requires identification documents saying that this forms part of his requirements as a solicitor on the Penrith Building Society Solicitor panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Penrith Building Society your lawyer also has to check ID documents to satisfy Penrith Building Society
How up to date is your search tool for the Penrith Building Society conveyancing panel? Do Penrith Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Penrith Building Society conveyancing panel as opposed to being supplied with a list from Penrith Building Society directly.
My lawyers in Manchester have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Penrith Building Society. Is it case that being on the Penrith Building Society conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Penrith Building Society Conveyancing Panel Terms. It might be worth you contacting Penrith Building Society directly.
How can we tell if a solicitor on the Penrith Building Society panel is any good?
seeking recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your conveyancing
My existing mortgage is with Penrith Building Society. My uncle retired last week and wants to pay off my mortgage. After Penrith Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Penrith Building Society conveyancing panel? I do not intend to live at the property once the Penrith Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Penrith Building Society panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Penrith Building Society are being problematic. The solicitor who is on the Penrith Building Society conveyancing panel is saying indemnity insurance will be fine but Penrith Building Society are requiring a building regulation certificate. Why do Penrith Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Penrith Building Society have referred the matter to their valuer. The reason why Penrith Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.

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