Swansea Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

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

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Swansea Building Society

Mortgage companies often change 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 93 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 29.4 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
16.5.3d 08/08/2017 CML
17.2.1a 08/08/2017 CML
5.13.1 08/08/2017 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
6.8.1 08/08/2017 CML Adoption of Road or Sewer Indemnity Insurance
5.7.1c 08/08/2017 CML Flying Freehold Indemnity Insurance
6.14.1c 01/12/2014 CML
6.7.1 30/06/2014 CML
16.4.1 01/12/2010 CML
16.5.2 01/12/2010 CML
4.1 01/12/2010 CML

Last update 18/05/2019

Common questions asked concerning the Swansea Building Society Solicitor Panel from members of the public

I was advised recently by my lender that my lawyer is not on the Swansea Building Society Solicitor panel. What can I do to be certain that this is indeed the case?
The first thing you need to do is to contact your lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the the approved Swansea Building Society solicitor panel.
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 Swansea Building Society will not agree to this. Why was Swansea Building Society even consulted?
Your lawyer being on the Swansea Building Society conveyancing panel is duty bound to inform Swansea Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Swansea Building Society then they would have to discontinue acting for you and Swansea Building Society.
What tools are available to search for a local solicitor on the Swansea Building Society conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the lawyer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Swansea Building Society solicitor panel.
I am thinking of mortgaging my property does my lawyer need to be on the Swansea Building Society Solicitor panel?
In theory, you could use a solicitor that is not on Swansea Building Society conveyancing panel, but Swansea Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Is there a list of Swansea Building Society panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I had instructed online solicitors based in Manchester who are on the Swansea Building Society solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the Swansea Building Society mortgage. Is this an additional conveyancing fee specified by Swansea Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Swansea Building Society but by your lawyers. Some firms on the Swansea Building Society will charge an ‘acting for lender’ fee and others do not.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Swansea Building Society conveyancing panel requirements are different to Swansea Building Society’s conveyancing panel criteria.