Swansea Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This software is the only way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Swansea Building Society’s changes. Even though utilising the tool is not a condition for acceptance on the Swansea Building Society panel, demonstrating you can stay up to date with Swansea Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your panel standing.

The system creates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Swansea Building Society

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Swansea 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, Swansea Building Society has made 92 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 29.7 days. In total, 42% of the sections of P2 of the UK Finance Lenders’ Handbook for Swansea Building Society have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
10.9 08/08/2017 CML
14.2.1 08/08/2017 CML
17.2.1a 08/08/2017 CML
4.5b 08/08/2017 CML
5.16.2 08/08/2017 CML
6.4.5 08/08/2017 CML
6.9.1 08/08/2017 CML Unknown Rights and Easements Indemnity Insurance
5.20.1 06/07/2012 CML
16.5.2 01/12/2010 CML
4.1 01/12/2010 CML

Last update 18/01/2019

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

I instructed a firm of solicitors to conduct the legal paperwork on my house purchase 4 weeks ago having applied for a mortgage with Swansea Building Society. The law firm reassured me that they are on Swansea Building Society conveyancing panel and advised me their panel reference. Swansea Building Society then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the conveyancing panel for Swansea Building Society?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Swansea Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Swansea Building Society as to how long they think it will take to get the firm to get back on the panel.
Please help. My solicitor is informing me me that she is duty-bound to apply for a Local Authority search stemming from the fact that the firm are on the Swansea Building Society conveyancing panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Swansea 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 Swansea Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Swansea Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I note that you have a search directory identifying law firms on the Swansea Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Swansea Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my solicitor is expelled from the Swansea Building Society Solicitor panel before completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Last month we had a mortgage agreed in principle with Swansea Building Society. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Swansea Building Society?
There is no definitive answer here. Have Swansea Building Society conducted the survey? Have you advised Swansea Building Society as your lawyers details and checked that your lawyer is on the Swansea Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Swansea Building Society. Is it possible to avoid using solicitors to save on the costs? 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 Swansea Building Society involved you will need to appoint a solicitor on the Swansea 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 Swansea Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Swansea Building Society conveyancing panel.
Sometime soon me and my wife are purchasing a garden flat in Hendon. Conveyancing solicitors in Hendon need to beretained. My colleagueadvised that we double-check that the conveyancer in Hendon is on the Swansea Building Society approved list of lawyers. Aren't all lawyers on the Swansea Building Society panel?
Far from all Hendon conveyancing firms are on the Swansea Building Society conveyancing panel. 5 people a month use our search tool to find a Hendon conveyancing firm on the on the Swansea Building Society approved list of lawyers.