Scottish Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This system optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Scottish Building Society’s changes. Even though using the software is not a prerequisite for Scottish Building Society , demonstrating you can stay up to date with Scottish Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your firm’s panel status.

The system generates real-time alerts, automatically produces regulatory 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 reduced PII premiums.

Find a Law Firm approved by Scottish Building Society

Mortgage companies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Scottish 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, Scottish Building Society has made 288 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 9.5 days. In total, 90% of the sections of P2 of the UK Finance Lenders’ Handbook for Scottish Building Society have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
6.14.1b 01/12/2014 CML
12.3.1 02/12/2010 CML
16.3.7b 02/12/2010 CML
16.5.3c 02/12/2010 CML
5.14.12 02/12/2010 CML
5.15.2b 02/12/2010 CML
5.15.2d 02/12/2010 CML
6.12.1 02/12/2010 CML
6.2.1 02/12/2010 CML
5.10.1 17/06/2009 CML

Last update 16/01/2020

Frequently asked questions relating to the Scottish Building Society Conveyancing Panel from members of the public

I would like to know the reason why all property lawyers aren't included on the Scottish Building Society Conveyancing panel?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
My solicitor has discovered an inconsistency between the assumptions in Scottish Building Society’s valuation survey and what is in the legal papers for the property. My solicitor informs me that as he is on the Scottish Building Society conveyancing panel he needs to ensure that the bank is with this discrepancy and is still content to lend. Is my conveyancer’s course or action correct?
A precondition to being on the Scottish Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Scottish Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do I have to pop into the offices of the Scottish Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Liverpool so that I can attend their offices if necessary.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool .
I am purchasing a new build flat and getting a mortgage with Scottish Building Society. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Scottish Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Scottish Building Society conveyancing panel in your location.
Do conveyancing solicitors on the Scottish Building Society conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Can I be sure that the solicitor on the Scottish Building Society panel is any good?
Getting recommendations is a sensible 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 advise that you speak with the lawyer handling your transaction
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Scottish Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Scottish Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Scottish Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.