Conveyancing Panel
The Monmouthshire Building Society Conveyancing Panel
The Monmouthshire Building Society operates a panel of approved law firms, managed by LMS. This new panel started operating on May 1st 2015. Please note that whilst your customer’s Solicitor may have been a member of the Society’s panel in the past, a new registration is required.If your customer wishes to use their own law firm and the firm is not currently on the LMS approved panel, you will need to advise them that the law firm will need to apply to join our panel.
You can obtain a list of the approved law firms by sending an e-mail to underwriting@monbs.com
How to apply to join our panel
Your customer’s law firm can apply to join our panel by applying on line at the following address:www.lms.com/lenderpanels
Registration requires key details of the firm, answers to a series of questions and a copy of their Practice and PII certificates (which can be uploaded on line).
Minimum requirements for panel membership are:
- Minimum of 2 partners/directors
- PII minimum cover of £2m, with cover provided by a “rated” insurer
- Must be a member of the Law Society’s Conveyancing Quality Scheme or a member of the Council for Licensed Conveyancers
- The firm must have undertaken a minimum of 120 purchase transactions in the last 12 months (with any lender)
If the law firm has any queries when applying, they may contact our dedicated support team on 0843 221 0660, quoting Monmouthshire Building Society.
Note: You can still process the mortgage application whilst the law firm’s application is being processed. However, the offer will not be available until the law firm has been approved and appointed to our panel. It is in yours and your customer’s interest that the law firm registers in a timely fashion.