Marsden Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Marsden Building Society’s changes. Notwithstanding that using the software is not a condition for acceptance on the Marsden Building Society panel, demonstrating you can stay up to date with Marsden Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor generates 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 reduced PII premiums.

Find a Law Firm approved by Marsden Building Society

Banks and building societies 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, over time:

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.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
C.12 10/04/2019 BSA
E.12 21/03/2016 BSA
D.34 25/06/2015 BSA
D.11 05/09/2011 BSA
D.34 05/08/2011 BSA
A.12 15/03/2010 BSA
D.30 15/03/2010 BSA
E.33 15/03/2010 BSA
F.1 15/03/2010 BSA
F.9 15/03/2010 BSA

Last update 13/07/2019

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

The conveyancer I wanted to use for conveyancing on a purchase said he will levy higher legal fees if my mortgage is with Marsden Building Society because of their unusual legal requirements. Will I regret using Marsden Building Society? Is Marsden Building Society conveyancing so much more difficult?
Marsden Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Marsden Building Society conveyancing panel. If they are not, this does add further risk of delay as Marsden Building Society will appoint their own solicitors to look after their interest.
can you help? My lawyer is informing me me that he has to conduct a Local Authority search stemming from the fact that the firm are on the Marsden Building Society conveyancing panel. Is my lawyer correct?
You have limited options available to you. As you are taking a mortgage 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 firms 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.
I am in the process of refinancing my home does my lawyer have to be on the Marsden Building Society Conveyancing panel?
In theory, you could use a solicitor that is not on Marsden Building Society conveyancing panel, but Marsden Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Do conveyancing solicitors on the Marsden Building Society conveyancing panel work on a no move no charge basis?
In the main 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 service
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch Marsden Building Society on various 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. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 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.
My husband and I are remortgaging a garden flat in Hendon. Conveyancing solicitors in Hendon need to beretained. My brother-in-lawsuggested that we check that the conveyancer in Hendon is on the Marsden Building Society list of approved conveyancing firms. Is this right?
Far from all Hendon conveyancing practices are on the Marsden Building Society conveyancing panel. 8 people a month use our search tool to find a Hendon conveyancing practitioner on the on the Marsden Building Society solicitors pane.