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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?
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How can my firm be reinstated onto the Penrith Building Society Conveyancing Panel?
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COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. It is supported by PI insurers. It is a unique risk mitigation tool.

This system optimises the 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. Notwithstanding that using the software 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, just as importantly, safeguard your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Penrith Building Society

Banks and building societies often 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.

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Penrith Building Society Conveyancing Panel : Questions and Answers from members of the public

My financial adviser has informed me that I have to pay Penrith Building Society fees should I instruct my family lawyer. How efficient are the Penrith Building Society conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and reasonably priced. Are there any Penrith Building Society conveyancers you'd recommend?
Penrith Building Society’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from whether they are on it. 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.
I am due to move into my new home next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Penrith Building Society. What risks do Penrith Building Society expect the insurance to cover?
All property lawyers on the Penrith Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Penrith Building Society’s Part 2 requirements of the CML Handbook (last updated on Penrith Building Society). Being on the Penrith Building Society conveyancing panel your lawyer is expect to follow these instructions.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Penrith Building Society conveyancing panel. My lawyer has said that they are on the Penrith Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Penrith Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Penrith Building Society solicitor panel.
I was expecting to complete on my flat last Thursday. My solicitor is on the Penrith Building Society conveyancing panel but has moved offices in the past couple of months and had not informed Penrith Building Society of their new address. Penrith Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Penrith Building Society branch or your mortgage broker to see if they can help.
I'm spending time viewing flats and am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Penrith Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Penrith Building Society , ask your prospective lawyers check they are on the Penrith Building Society conveyancing panel otherwise they can't do the mortgage legal work.
After shopping around on the internet I have found a solicitor having made sure that they are on the Penrith Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or Having digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Penrith Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Penrith Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Penrith Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Penrith Building Society you could contact your them to see if they have a list of approved surveyors.
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.

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