Manchester Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Manchester Building Society’s changes. Even though using COMPLETIONmonitor is not a prerequisite for Manchester Building Society , demonstrating you can stay up to date with Manchester Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your panel standing.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Manchester Building Society

Lenders often change their requirements. The UK Finance Lenders’ Handbook requirements from Manchester Building Society 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, Manchester Building Society has made 43 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 63.5 days. In total, 17% of the sections of P2 of the UK Finance Lenders’ Handbook for Manchester Building Society have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Manchester Building Society Conveyancing Panel : Questions and Answers from members of the public

I have just been informed by my financial adviser that my solicitor is not on the Manchester Building Society Solicitor panel. How can I be certain that this is indeed the case?
You need to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the the approved Manchester Building Society solicitor panel.
Much to my surprise my property lawyer has informed me that he requires personal identification documents saying that this forms part of his retainer as a conveyancer on the Manchester Building Society Solicitor panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Manchester Building Society your lawyer also has to check ID documents to satisfy Manchester Building Society
How up to date is your database of lawyers on the Manchester Building Society conveyancing panel? Do Manchester Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Manchester Building Society conveyancing panel as opposed to being supplied with a list from Manchester Building Society directly.
What happens if my solicitor is removed from the Manchester Building Society Conveyancing panel prior to completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are getting a further advance on our mortgage from Manchester Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Manchester Building Society conveyancing panel to deal with the legals?
Manchester Building Society do not ordinarily appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Manchester Building Society list
Two weeks ago we had a mortgage agreed in principle with Manchester Building Society. Solicitors have been instructed? How long does it take for Manchester Building Society to send the offer to our conveyancer
There is no definitive answer here. Have Manchester Building Society done the valuation? Have you advised Manchester Building Society as your lawyers details and checked that your lawyer is on the Manchester Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I have paid off my mortgage with Manchester Building Society. I assume I don't need a solicitor on the Manchester Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Manchester Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Manchester Building Society mortgage from the register. Manchester Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Manchester Building Society has sent the Land Registry the discharge electronically, and the Manchester Building Society has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Manchester Building Society mortgage has been paid off.