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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

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. It is supported by professional indemnity insurers. COMPLETIONmonitor is a unique risk management tool.

This software assists the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Penrith Building Society’s changes. Notwithstanding that using COMPLETIONmonitor is not a condition for acceptance on the Penrith Building Society panel, demonstrating you can remain up to date with Penrith Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, protect your firm’s panel standing.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will increase 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 Penrith Building Society

Lenders frequently change 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 35 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 78.0 days. In total, 20% 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

I have been advised by my broker that I have to pay Penrith Building Society fees should I instruct my family lawyer. How good are the Penrith Building Society conveyancing panel solicitors? I dont care which law firm I use provided that they are good and not exorbitantly priced. Would you recommend a specific law firm on the Penrith Building Society panel?
Penrith Building Society’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Penrith Building Society will allow to act for them.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Penrith Building Society will not agree to this. Why was Penrith Building Society even consulted?
Your lawyer being on the Penrith Building Society conveyancing panel is duty bound to inform Penrith Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Penrith Building Society then they would have to discontinue acting for you and Penrith Building Society.
I need to find a Penrith Building Society panel solicitor in Stirling. Could you help me?
Unfortunately it’s not apparent why you need a Penrith Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Penrith Building Society to find out which solicitors in Penrith Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I am mortgaging my property does my lawyer have to be on the Penrith Building Society Solicitor panel?
There is nothing to stop you using your solicitor but Penrith Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My wife and I have arranged a further advance on our mortgage from Penrith Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Penrith Building Society conveyancing panel to deal with the paperwork?
Penrith Building Society would not normally appoint a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Penrith Building Society list
The mortgage over my property is with Penrith Building Society. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Penrith Building Society?
Your original mortgage agreement with Penrith Building Society will provide that you need their approval 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. You need not do this via a Penrith Building Society conveyancing panel solicitor.
My offer was accepted on an apartment on the 20th March 2014, valuation was booked 4 days later, received a clean bill of health. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Penrith Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Penrith Building Society conveyancing panel. Are Penrith Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Penrith Building Society to deal with your lawyers application to be on the Penrith Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.

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