Marsden Building Society 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 such as AmTrust. It is a unique risk mitigation tool.

This software assists the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Marsden Building Society’s changes. Even though using the tool is not a condition for being on the Marsden Building Society panel, 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 panel status.

The software creates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. It is also user friendly, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Marsden Building Society

Mortgage companies often change 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 24 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 113.8 days. In total, 22% of the sections of the BSA Requirements for Marsden Building Society have been changed since 26/1/2010.

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Recent Changes Include

# Date Assoc. Changes Related To
E.12 21/03/2016 BSA
D.11 05/09/2011 BSA
C.12 24/11/2010 BSA
D.24 15/03/2010 BSA
D.26 15/03/2010 BSA
D.30 15/03/2010 BSA
E.1 15/03/2010 BSA
E.33 15/03/2010 BSA
F.1 15/03/2010 BSA
F.9 15/03/2010 BSA

Last update 14/01/2019

FAQs for the Marsden Building Society Solicitor Panel from members of the public

I have been advised by my broker that I have to pay Marsden Building Society fees if I use my own solicitor. How efficient are the Marsden Building Society conveyancing panel solicitors? I dont care which law firm I use as long as they're good and reasonably priced. Would you recommend a specific law firm on the Marsden Building Society panel?
Marsden Building Society’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Marsden Building Society will allow to act for them.
can you help? My conveyancer is informing me me that she is duty-bound to conduct a Local Authority search as the firm are on the Marsden Building Society solicitor panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with Marsden Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Marsden Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Marsden Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Marsden Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
Can you clarify what the consequences are if my solicitor is suspended from the Marsden Building Society Conveyancing panel before completion?
First, this is a very rare occurrence. 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 for a fee.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Marsden Building Society conveyancing panel requirements are different to Marsden Building Society’s conveyancing panel requirements.
We have a mortgage agreed in principle with Marsden Building Society. Solicitors have been chosen? How long does it take for Marsden Building Society to send the offer to our conveyancer
Some lenders take longer than others. Have Marsden Building Society completed the valuation? Have you advised Marsden Building Society as your lawyers details and checked that your lawyer is on the Marsden Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
What are the common reasons for a lender such as Marsden Building Society to withdraw a mortgage offer?
Lenders such as Marsden Building Society can revoke their mortgage offer although this rarely happens. should Marsden Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
  • Where information comes to Marsden Building Society ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
  • If the borrower informs Marsden Building Society of a change in security address
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where the lender has to take account a recent change in law
  • If the solicitor on the Marsden Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Marsden Building Society ‘s instructions