Scottish Building Society Conveyancing Lender Panel Compliance Tool

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

This software is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Scottish Building Society’s changes. Even though utilising the tool is not a condition for acceptance on the Scottish Building Society panel, demonstrating you can remain up to date with Scottish Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, protect your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA 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 a PII saving.

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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Scottish Building Society Solicitor Panel Example Support Desk Enquires from members of the public

I appointed a law firm to conveyancing on my purchase three weeks ago having applied for a mortgage with Scottish Building Society. The firm confirmed to me that they are on Scottish Building Society conveyancing panel and gave me their panel reference. Scottish Building Society then told me that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor currently on the conveyancing panel for Scottish Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Scottish Building Society as to how long they think it will take to get the firm to get back on the panel.
can you help? My lawyer is assuring me that he is legally obliged to conduct a Local Authority search as the firm are on the Scottish Building Society conveyancing panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Scottish Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Scottish Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Scottish Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
How up to date is your search tool for the Scottish Building Society conveyancing panel? Do Scottish Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Scottish Building Society conveyancing panel as opposed to being supplied with a list from Scottish Building Society directly.
I am considering applying for a Scottish Building Society mortgage for purchase of a new build (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Scottish Building Society?
There is nothing to stop you using your solicitor but Scottish Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I hope to get a mortgage with Scottish Building Society. Is it possible to avoid using solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Scottish Building Society involved you will need to appoint a solicitor on the Scottish Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Scottish Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Scottish Building Society conveyancing panel.
For 5 years I had a mortgage with Scottish Building Society. My father retired last week and wants to pay off my mortgage. After Scottish Building Society is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Scottish Building Society conveyancing panel? I do not intend to live at the property once the Scottish Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Scottish 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. There's no capital gains tax for you as it is your main residence.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Scottish Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Scottish Building Society you will need to appoint a solicitor on the Scottish Building Society conveyancing panel.