Monmouthshire Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Monmouthshire Building Society and to assist in remaining on the Monmouthshire Building Society Solicitor Panel.

Monmouthshire Building Society Conveyancing Panel: Recently Asked Questions

Can my firm make a complaint to the Council of Mortgage Lenders about being removed from the Monmouthshire Building Society conveyancing panel?
The CML is an association rather than a regulator and therefore cannot investigate grievances against lenders. You can of course contact Lexsure to see if we can help.

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Do Monmouthshire Building Society or the CML run professional training Courses for the Monmouthshire Building Society approved conveyancing panel in much the same way that the Law Society run cases for CQS firms?
The Council of Mortgage Lenders (or the BSA) do not involve themselves in training however they do organise numerous useful conveyancing related conferences which are attended by firms on the Monmouthshire Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Monmouthshire Building Society’s Part 2 requirements. Practitioners on the Monmouthshire Building Society conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor Alerts.
A long standing client of my firm is looking to purchase a property for £700,000 in Leeds with a mortgage over GBP 500k. I am on the Monmouthshire Building Society conveyancing panel but do Monmouthshire Building Society have a separate approved panel when the advance is above 350k?
Lexsure only know of a couple of lenders that operate a separate approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Monmouthshire Building Society. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Monmouthshire Building Society
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Monmouthshire Building Society conveyancing panel?
In order to be on the Monmouthshire Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Monmouthshire Building Society) are as follows:
  • To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
  • To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
  • To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
  • To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
  • That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
I have read a number of legal articles recently about firms being sued for non-compliance with CML PII obligations . I am on the Monmouthshire Building Society conveyancing panel can you tell me how Part 2 changes took place by Monmouthshire Building Society during 2013?
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.

Lockton’s PI Insurance renewal form enquires if my practice had been removed off any mortgage panels in the last year. I recently discovered that the practice is no longer on the Monmouthshire Building Society conveyancing panel? Will that effect my PII premium?
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.
I am on the Monmouthshire Building Society conveyancing panel and scheduled to complete a remortgage within the next few weeks. I can not locate a Mortgage Deed for the client to sign. Who do I contact at Monmouthshire Building Society to request substitute deeds?
You would be advised to contact Monmouthshire Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express section for lenders to reveal 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 your Monmouthshire Building Society conveyancing panel number.

Find a Lawyer on the Monmouthshire Building Society Solicitor Panel

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Average number of days to register title including a charge in favour of Monmouthshire Building Society
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 [no data]
2022 52.7
2021 [no data]
2020 [no data]
2019 30.6
* Data aggregated from sources including COMPLETIONmonitor