Monmouthshire Building Society Conveyancing Panel Information

UK Finance Designator: Monmouthshire Building Society
Jurisdiction: England and Wales

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.

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Monmouthshire Building Society Solicitor Panel: Recently Asked Questions

my firm is on the Monmouthshire Building Society conveyancing panel. Can I get an archived copy of a Monmouthshire Building Society Part 2 from the CML?
The Council of Mortgage Lenders do not retain duplicates of P2 conditions pre-December 2010. We would recommend you make a request of Monmouthshire Building Society directly.

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Will the fact that my practice receives LENDERmonitor Alerts help in my application to join the Monmouthshire Building Society conveyancing panel?
The criteria to join the Monmouthshire Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
My client is buying a property for £800,000 in Liverpool requiring a mortgage advance over GBP 500k. I am on the Monmouthshire Building Society conveyancing panel but do Monmouthshire Building Society have a separate approved panel when a mortgage 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
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with Part 2 requirements . 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.

I have been a solicitor for approximately 35 years with a clean claims history and have been refused acceptance on the Monmouthshire Building Society conveyancing panel with no explanation. Am I not entitled to to know why?
For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Monmouthshire Building Society conveyancing panel to see if you are entitled to a reason.
JLT’s PI Insurance renewal form questions if my firm had been excluded from any bank panels in the last year. I just found out that the practice is no longer on the Monmouthshire Building Society conveyancing panel? Will that impact my PII cover?
Your insurance brokers are your best port of call to address this question. 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 purchase within the next week. I can not locate a Legal Charge for the client to sign. Who do I contact at Monmouthshire Building Society to get a duplicate Deed?
You need to communicate with Monmouthshire Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook includes a specific question for banks to set out who to contact to obtain standard documents. You will need to disclose your Monmouthshire Building Society solicitors panel number.

Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors

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