Marsden Building Society Conveyancing Lender Panel Compliance Tool

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 mitigation tool.

This system facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Marsden Building Society’s changes. Even though utilising this technology is not a prerequisite for Marsden Building Society , demonstrating you can stay up to date with Marsden Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your firm’s panel status.

The software creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Marsden Building Society

Banks and building societies frequently vary their requirements. The BSA instructions from Marsden Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2010, Marsden Building Society has made 44 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 62.0 days. In total, 31% of the sections of the BSA Requirements for Marsden Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Q and A’s regarding the Marsden Building Society Solicitor Panel from members of the public

Is the fact that my conveyancer is not isted on the Marsden Building Society Conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Marsden Building Society.
My solicitor has discovered a difference when comparing the assumptions in Marsden Building Society’s valuation report and what is revealed within the title deeds. My solicitor says that as he is on the Marsden Building Society conveyancing panel he needs to ensure that the lender is OK with this discrepancy and is content go ahead. Is my solicitor’s stance correct?
A precondition to being on the Marsden Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Marsden 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.
Do lenders provide you with an approved list of solicitors? How do you know who is on the Marsden Building Society conveyancing panel?
The firms themselves provide us confirmation that they are on the Marsden Building Society conveyancing panel as opposed to being supplied with a list from Marsden Building Society directly.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Marsden Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Marsden Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I'm spending time looking at houses and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a home loan with Marsden Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Marsden Building Society , ask your prospective lawyers check they are on the Marsden Building Society conveyancing panel otherwise they can't do the mortgage legal work.
Can I register a complaint to Marsden Building Society about the lawyers being on the Marsden Building Society conveyancing panel?
There is little point in complaining directly to Marsden Building Society. All solicitors and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.

The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.

If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.

After shopping around on the internet I have found a solicitor having made sure that they are on the Marsden Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Marsden Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Marsden Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Marsden Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Marsden Building Society you could contact your them to see if they have a list of approved surveyors.