Swansea Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. 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 notifications given on Swansea Building Society’s changes. Notwithstanding that using COMPLETIONmonitor is not a condition for being on the Swansea Building Society panel, demonstrating you can stay up to date with Swansea Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, safeguard your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

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Mortgage companies frequently 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 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
16.3.2 08/08/2017 CML
5.14.15a 08/08/2017 CML Absentee Landlord Indemnity Insurance
5.14.1 08/08/2017 CML
5.1.1 08/08/2017 CML
5.5.3a 08/08/2017 CML Lack of Planning Permission Indemnity Insurance
6.6.1 08/08/2017 CML
5.5.1b 01/12/2014 CML
6.14.1c 01/12/2014 CML
16.4.1 01/12/2010 CML
16.5.2 01/12/2010 CML

Last update 19/03/2019

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

How easy is it to change a solicitor as I need to find one who is on the Swansea Building Society conveyancing panel. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
Our grandson is purchasing a new build apartment with a mortgage from Swansea Building Society. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. 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 surveyor 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.

Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Swansea Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am selling my house. Does my solicitor have to be on the Swansea Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Swansea Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all Conveyancing Quality Solicitors on the Swansea Building Society conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Swansea Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Swansea Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Swansea Building Society panel she or he must comply with the CML Handbook requirements for Swansea Building Society. Unless your lawyer obtains specific confirmation in writing that Swansea Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Swansea Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Swansea Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Swansea Building Society or your broker and complete any relevant paperwork. Swansea Building Society will tell you what documents they want. Swansea Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Swansea Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.