Penrith Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This system optimises the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on Penrith Building Society’s changes. Notwithstanding that using COMPLETIONmonitor is not a prerequisite for Penrith Building Society , demonstrating you can remain up to date with Penrith Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Penrith Building Society

Mortgage companies 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, frequently:

A Timeline of Policy Changes


Since 2010, Penrith Building Society has made 20 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 136.5 days. In total, 14% 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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Recent Changes Include

# Date Assoc. Changes Related To
D.34 20/05/2016 BSA
E.12 21/03/2016 BSA
D.34 24/11/2015 BSA
C.12 24/11/2015 BSA
B.22 10/02/2014 BSA
D.34 10/02/2014 BSA
E.12 10/02/2014 BSA
A.12 10/02/2014 BSA
B.3 10/02/2014 BSA
D.14 01/08/2012 BSA

Last update 21/07/2019

FAQs for the Penrith Building Society Solicitor Panel from members of the public

On what basis would a law firm be removed from the Penrith Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
  1. Low volume of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction
  4. regulatory contact by SRA
  5. accidental removal. We are not aware of the specific or common criteria for removal by Penrith Building Society
Can you clarify something for me?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Penrith Building Society was issued random date and we have agreed a date for me to move into the property on Tues etc. My lawyer has advised that as she is on the Penrith Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Penrith Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Penrith Building Society)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Penrith Building Society.
I am planning to acquire a flat and need a conveyancing solicitor in Leeds who is on the Penrith Building Society solicitor. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Penrith Building Society . We don’t recommend any particular firm.
We're in Liverpool, First timers purchasing with a mortgage (lender is Penrith Building Society , but our lawyer is on the Penrith Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Penrith 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
I have a mortgage with Penrith Building Society. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Penrith Building Society?
You must advise Penrith Building Society in advance of renting your property as this is likely to be a breach of Penrith Building Society’s mortgage conditions. It may be that Penrith Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Penrith Building Society directly. It should not be necessary to do this via a Penrith Building Society conveyancing panel firm.
Completion of my purchase has taken place with a mortgage from Penrith Building Society. Conveyancing was of an acceptable standard but I would like to complain about Penrith Building Society. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the Penrith Building Society branches or the Customer Services Team at Penrith Building Society head office. In most cases complaints to Penrith Building Society are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Penrith Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Penrith Building Society or your broker and complete any relevant paperwork. Penrith Building Society will tell you what documents they want. Penrith Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Penrith Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.