Swansea Building Society Conveyancing Panel Information

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

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Swansea Building Society Conveyancing Panel: Recently Asked Questions

Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?

We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good reason. It is highly unlikely, given that lenders have distanced themselves from creating a standardised appeals process for brokers, that an appeals process will be introduced for lawyers. Commenting on the call by brokers to have a standardised process the CML said’ “While we understand that some lenders do have an appeals process, it would not be appropriate for a trade body such as the CML to seek to be prescriptive about such a process.” Some lenders do of course set out an appeals policy. The Law Society does have information on it’s site that may be of assistance. If you would like to talk to one of our compliance experts about our Lender Panel Protection Service please contact us.

Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel?

The fact of the matter is that estate agents will be feeling the pain if their clients start out on the buying process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

A recent SRA survey reveals that 76% of solicitors have been removed from a lender conveyancing panel. Swansea Building Society and other lenders have restricted their panel over the years. Why?

In operating open conveyancing panels, lenders such as Swansea Building Society face a number of fraud and negligence risks. While there is no authoritative source of data on lender exposure to solicitor–led mortgage fraud, anecdotal evidence from lenders indicates exposure on individual cases are often in the millions of pounds. The National Fraud Authority estimates that £1bn per year is lost in mortgage -related frauds in total, which is seen as a conservative estimate.

These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.

Swansea Building Society and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.

I have been a qualified solicitor for approximately 35 years never having had a negligence claim and have been refused acceptance on the Swansea Building Society conveyancing panel with no explanation. Am I not entitled to a reason?

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 Swansea Building Society conveyancing panel to see if you are entitled to a reason.

Prime Professional’s PII renewal form questions if my practice had been removed off any mortgage panels in the last 12 months. I recently found out that the practice is no longer on the Swansea Building Society conveyancing panel? Is this likely to effect my PII premium?

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 Swansea Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

My firm is listed on the Swansea Building Society conveyancing panel and scheduled to complete a purchase within the next week. I dont have a Legal Charge for the client to sign. Who do I contact at Swansea Building Society to request substitute deeds?

You should communicate with Swansea Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual section for banks to reveal who to contact to obtain standard documents. Swansea Building Society in their Part 2’s state:

Always remember to quote your Swansea Building Society conveyancing panel number.

Find a Lawyer on the Swansea Building Society Solicitor Panel

Average number of days to register title including a charge in favour of Swansea Building Society

This information relates to purchase only and not remortgages.

Year	Days*
2025	[no data]
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]
2020	[no data]

* Data aggregated from sources including COMPLETIONmonitor

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