Monmouthshire Building Society Conveyancing Panel Information

We are not aware of any intention on the part of the CML to develop such a tool.

The requirements to join the Monmouthshire Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Monmouthshire Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Monmouthshire Building Society we suggest that you call Monmouthshire Building Society to check the position.

During 2013, 211 sections of the UK Finance Lenders’ Handbook P2 were changed by Monmouthshire Building Society. Some changes are more important than others but as a firm on the Monmouthshire Building Society conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Monmouthshire Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to contact Monmouthshire Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit inquiry for banks to set out who to contact to obtain standard documents. Monmouthshire Building Society in their Part 2’s state: It is likely that you will need to quote the firm’s Monmouthshire Building Society conveyancing panel reference.