Mansfield Building Society Conveyancing Lender Panel Compliance Tool

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COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This system assists the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on Mansfield Building Society’s changes. Even though utilising the tool is not a condition for being on the Mansfield Building Society panel, demonstrating you can remain up to date with Mansfield Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Mansfield Building Society

Mortgage companies often vary their requirements. The BSA instructions from Mansfield 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 2010, Mansfield Building Society has made 32 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 85.3 days. In total, 31% of the sections of the BSA Requirements for Mansfield Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

FAQs : The Mansfield Building Society Conveyancing Panel from members of the public

I have been advised by my broker that I have to pay Mansfield Building Society fees should I instruct my family lawyer. How good are the Mansfield Building Society conveyancing panel solicitors? I dont care which law firm I use provided that they are good and reasonably priced. Would you recommend a specific law firm on the Mansfield Building Society panel?
Mansfield Building Society’s conveyancing panel is substantial so your best bet is just to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Mansfield Building Society will allow to act for them.
My solicitor has identified a discrepancy between the surveyor’s assumptions in Mansfield Building Society’s valuation report and what is in the conveyancing documents. My solicitor has advised that as he is on the Mansfield Building Society conveyancing panel he is duty bound to check that the bank is with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
A precondition to being on the Mansfield Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Mansfield Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
How do I find a local solicitor on the Mansfield Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the conveyancer.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Mansfield Building Society solicitor panel.
Please explain the implications if my solicitor is suspended from the Mansfield Building Society Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, 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.
When it comes to mortgage companies such as Mansfield Building Society do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Do conveyancing lawyers on the Mansfield Building Society conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
The mortgage over my property is with Mansfield Building Society. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Mansfield Building Society?
Your original mortgage agreement with Mansfield Building Society will provide that you need their approval prior to renting your property as this is likely to be a breach of Mansfield Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Mansfield Building Society directly. You need not do this via a Mansfield Building Society conveyancing panel lawyer.

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