MBS Lending Ltd Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with alerts on MBS Lending Ltd’s changes. While using COMPLETIONmonitor is not a condition for acceptance on the MBS Lending Ltd panel, demonstrating you can stay up to date with MBS Lending Ltd’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your panel status.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will increase 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 MBS Lending Ltd

Banks and building societies often vary their requirements. The BSA instructions from MBS Lending Ltd 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, MBS Lending Ltd has made 71 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 38.5 days. In total, 38% of the sections of the BSA Requirements for MBS Lending Ltd 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 01/06/2018 BSA
D.55 25/05/2018 BSA
C.12 02/05/2017 BSA
B.12 08/01/2014 BSA
C.14 08/01/2014 BSA
C.27 08/01/2014 BSA
D.44 08/01/2014 BSA
D.47 08/01/2014 BSA
E.33 08/01/2014 BSA
E.33 03/01/2012 BSA

Last update 23/03/2019

FAQs : The MBS Lending Ltd Conveyancing Panel from members of the public

I would like to know the reason why all UK lawyers are not on the MBS Lending Ltd Solicitor panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
My conveyancer has identified an inconsistency when comparing the surveyor’s assumptions in MBS Lending Ltd’s valuation report and what is in the legal papers for the property. My solicitor has advised that as he is on the MBS Lending Ltd conveyancing panel he is obliged to check that the bank is with this discrepancy and is content go ahead. Is my conveyancer’s stance right?
A precondition to being on the MBS Lending Ltd approved panel is to comply with the CML Handbook requirements (last updated for this lender on MBS Lending Ltd) 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.
I am planning to acquire a house and require a conveyancing solicitor in Leeds who is on the MBS Lending Ltd solicitor. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for MBS Lending Ltd . We don’t recommend any particular firm.
I was scheduled to move into my first house last Thursday. My solicitor is on the MBS Lending Ltd conveyancing panel but has changed address in the past couple of months and had not informed MBS Lending Ltd of their new address. MBS Lending Ltd is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local MBS Lending Ltd branch or your mortgage broker to see if they can assist.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the MBS Lending Ltd conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I had instructed online conveyancers located in Bristol who are on the MBS Lending Ltd solicitor panel. They are now charging me a separate fee of £195 for the legal aspects of the MBS Lending Ltd mortgage. Is this an additional conveyancing fee set by MBS Lending Ltd?
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 MBS Lending Ltd but by your lawyers. Some firms on the MBS Lending Ltd will charge an ‘acting for lender’ fee and others do not.
I was told three weeks ago that my mortgage has been agreed to by MBS Lending Ltd. Is it usual for MBS Lending Ltd to only issue the offer once my solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for MBS Lending Ltd to deal with your lawyers application to be on the MBS Lending Ltd conveyancing panel. There's no guarantee that your solicitors will be accepted.