Swansea Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. It is a unique risk mitigation tool.

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

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

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Lenders 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, frequently:

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
6.7.1 26/09/2017 CML
16.1.1 08/08/2017 CML
4.3 08/08/2017 CML
6.1.3 08/08/2017 CML
6.4.5 08/08/2017 CML
6.14.1 30/11/2015 CML
6.14.4 01/12/2014 CML
5.20.4 23/07/2013 CML
5.20.1 06/07/2012 CML
5.20.3 06/07/2012 CML

Last update 04/11/2018

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

I am progressing with the sale of my apartment and the EA has just telephoned to warn that the buyers are switching law firm. I am told that this is due to the fact that Swansea Building Society will only deal with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.

Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

Our god-son is in the process of securing a new build apartment with a mortgage from Swansea Building Society. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Swansea Building Society conveyancing panel as a standard part of the process, and to the valuer when requested.

The Developer will be required to start the process by downloading the form and completing it.

The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Swansea Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

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 10 miles to meet the lawyer.
You can use the find a conveyancing panel tool 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.
My uncle passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Swansea Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Swansea Building Society will insist on your using a conveyancer on the Swansea Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Swansea Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Swansea Building Society mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Swansea Building Society do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all solicitor firms on the Swansea Building Society conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Swansea Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My offer on house has been accepted, the seller does however have a dependent purchase. 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 Swansea 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 Swansea 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 Swansea Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.