Swansea Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders 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 instructions, with alerts on Swansea Building Society’s changes. While using the software is not a condition for being 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 panel application and, just as importantly, safeguard your panel standing.

The system generates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Swansea Building Society

Lenders 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, frequently:

A Timeline of Policy Changes

Since 2008, Swansea Building Society has made 94 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 29.0 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.

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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 29/05/2019 CML
16.1.1 08/08/2017 CML
16.4.2 08/08/2017 CML
16.5.3b 08/08/2017 CML
6.12.1 08/08/2017 CML
6.1.3 08/08/2017 CML
5.5.1b 01/12/2014 CML
6.14.2 01/12/2014 CML
3.1.3 01/12/2014 CML
6.14.1b 30/06/2014 CML

Last update 16/09/2019

Q and A’s regarding the Swansea Building Society Conveyancing Panel from members of the public

My financial adviser has says he needs my solicitor’s panel reference for the Swansea Building Society conveyancing panel. How do I find this out. I have tried my local Swansea Building Society office but they don't know it.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Swansea Building Society panel reference.
Much to my surprise my conveyancing solicitor is asking me for proof of ID documents stating that this forms part of his obligations as a solicitor on the Swansea Building Society Conveyancing panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Swansea Building Society your lawyer also has to check ID documents to satisfy Swansea Building Society
I need to find a Swansea Building Society panel solicitor in Inverness. Can you assist?
Unfortunately it’s not apparent why you need a Swansea Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Swansea Building Society to find out which solicitors in Swansea Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I was supposed to move into my dream home last Thursday. My lawyer’s firm is on the Swansea Building Society solicitors panel but has moved offices in the past couple of months and had not informed Swansea Building Society of their new address. Swansea Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Swansea Building Society branch or your mortgage broker to see if they can assist.
What are the common reasons for a lender such as Swansea Building Society to withdraw a mortgage offer?
Lenders such as Swansea Building Society can revoke their mortgage offer although this is unusual. should Swansea Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
  • Many mortgage offers have an expiry date. Your lawyer should check this. Swansea Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
  • If the financial circumstances of the borrower have changed to the detriment and the Swansea Building Society has been notified
  • Where the Lender’s right to possession is fettered in some way
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
  • If the solicitor on the Swansea Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Swansea Building Society ‘s instructions
I have instructed a lawyer having made sure that they are on the Swansea Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or Having digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Swansea Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Swansea Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Swansea Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Swansea Building Society you could contact your them to see if they have a list of approved surveyors.
We are are purchasing a flat in Hendon. Conveyancing solicitors in Hendon need to beinstructed. My brokeradvised that we double-check that the solicitor in Hendon is on the Swansea Building Society solicitors panel. Aren't all lawyers on the Swansea Building Society panel?
A limited percentage of Hendon conveyancing firms are on the Swansea Building Society conveyancing panel. Click here to find a Hendon conveyancing solicitor on the on the Swansea Building Society approved list of lawyers.