M&S Bank Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This system optimises the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on M&S Bank’s changes. Notwithstanding that utilising COMPLETIONmonitor is not a prerequisite for M&S Bank , demonstrating you can stay up to date with M&S Bank’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your panel status.

The software creates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by M&S Bank

Lenders frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from M&S Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes


Since 2008, M&S Bank has made 125 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 21.8 days. In total, 35% of the sections of P2 of the UK Finance Lenders’ Handbook for M&S Bank have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
16.3.7a 12/03/2018 CML
16.5.3d 12/03/2018 CML
17.1.1 12/03/2018 CML
5.13.1 12/03/2018 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
5.14.12 12/03/2018 CML
5.15.2d 12/03/2018 CML
5.5.3a 12/03/2018 CML Lack of Planning Permission Indemnity Insurance
6.6.2 12/03/2018 CML
5.2.1 12/03/2018 CML
5.20.4 12/03/2018 CML

Last update 13/01/2020

M&S Bank Conveyancing Panel : Questions and Answers from members of the public

What is the rationale as to why all solicitors are not on the M&S Bank Conveyancing panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Much to my surprise my property lawyer is asking me for identification documents asserting that this is part of his obligations as a solicitor on the M&S Bank Solicitor panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that M&S Bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with M&S Bank CML Handbook requirements last updated on M&S Bank
I see that you have a post code search directory identifying firms on the M&S Bank conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the M&S Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
We're in London, FTBs purchasing with a mortgage (lender is M&S Bank , but our lawyer is on the M&S Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the M&S Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is it the case that all solicitors on the M&S Bank conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the M&S Bank conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Is it common for M&S Bank to withdraw a mortgage offer and what would be the reasoning?
Lenders such as M&S Bank can withdraw their mortgage offer although this rarely happens. In the unlikely event that M&S Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
  • If the borrower informs M&S Bank of a change in security address
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where the sale is not at arms length for value to unconnected persons
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
For 5 years I had a mortgage with M&S Bank. My grandfather has just retired and wants to pay off my mortgage. After M&S Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the M&S Bank conveyancing panel? I do not intend to live at the property once the M&S Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the M&S Bank panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.