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 optimises 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. Notwithstanding that utilising the tool is not a prerequisite for Marsden Building Society , demonstrating you can remain up to date with Marsden Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your panel standing.

The software creates real-time alerts, automatically produces COLP 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.

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Mortgage companies often 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 26 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 105.0 days. In total, 23% 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
C.12 10/04/2019 BSA
E.12 21/03/2016 BSA
C.12 24/11/2010 BSA
B.12 15/03/2010 BSA
D.25 15/03/2010 BSA
D.26 15/03/2010 BSA
D.47 15/03/2010 BSA
E.1 15/03/2010 BSA
E.33 15/03/2010 BSA
F.1 15/03/2010 BSA

Last update 14/05/2019

Marsden Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

I am hoping to receive a mortgage with Marsden Building Society. my intention is to instruct a Licensed Conveyancer. Does the Marsden Building Society Solicitor panel exclude Licensed Conveyancers
Marsden Building Society’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am due to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Marsden Building Society. What risks do Marsden Building Society expect the insurance to cover?
Any lawyer on the Marsden Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Marsden Building Society’s Part 2 requirements of the CML Handbook (last updated on Marsden Building Society). Being on the Marsden Building Society conveyancing panel your lawyer is expect to follow these instructions.
Do I have to attend the offices of the Marsden Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Manchester so that I can attend their offices if required.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Manchester .
I would like to get my ex-wife taken off the mortgage deeds. Can Marsden Building Society really insist on which solicitor I can or can not use?
You can use any solicitor you like but Marsden Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Marsden Building Society solicitors panel
I had instructed online solicitors based in London who are on the Marsden Building Society solicitor panel. They are now charging me a separate fee of £195 for dealing with the Marsden Building Society mortgage. Is this an additional conveyancing fee set by Marsden Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Marsden Building Society but by your lawyers. Some firms on the Marsden Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
How can we tell if a solicitor on the Marsden Building Society panel is any good?
seeking recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your transaction
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Marsden Building Society on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Marsden Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Marsden Building Society panel she or he must comply with the CML Handbook requirements for Marsden Building Society. Unless your lawyer obtains specific confirmation in writing that Marsden Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Marsden Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.