MBS Lending Ltd Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This software assists the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with alerts on MBS Lending Ltd’s changes. While utilising COMPLETIONmonitor is not a prerequisite for MBS Lending Ltd , 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 standing.

COMPLETIONmonitor generates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in reduced PII premiums.

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Lenders frequently change 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, frequently:

A Timeline of Policy Changes


Since 2010, MBS Lending Ltd has made 68 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 40.1 days. In total, 37% 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
D.55 21/11/2017 BSA
C.12 02/05/2017 BSA
C.14 08/01/2014 BSA
C.19 08/01/2014 BSA
D.24 08/01/2014 BSA
D.56 08/01/2014 BSA
D.25 08/01/2014 BSA
D.45 03/01/2012 BSA
A.10 24/02/2011 BSA
A.12 24/02/2011 BSA

Last update 08/11/2018

MBS Lending Ltd Conveyancing Panel Sample Enquires to our Call Center from members of the public

Can you please explain the reason why all solicitors aren't included on the MBS Lending Ltd Conveyancing panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
My husband and I changing mortgage lender for our maisonette with MBS Lending Ltd. We have a son approaching twenty who lives with us. The solicitor on the MBS Lending Ltd conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the MBS Lending Ltd conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your MBS Lending Ltd conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to MBS Lending Ltd .This is solely used to protect the MBS Lending Ltd if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of MBS Lending Ltd had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

I am purchasing a property and need a conveyancing solicitor in London who is on the MBS Lending Ltd approved. Could you point me in the right direction as regards a 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.
My grandfather passed away last year and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to MBS Lending Ltd , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then MBS Lending Ltd will insist on your using a conveyancer on the MBS Lending Ltd conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your MBS Lending Ltd conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the MBS Lending Ltd mortgage is registered as a charge at the Land Registry.
Are all conveyancing solicitors on the MBS Lending Ltd conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the MBS Lending Ltd conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
How can we tell if a solicitor on the MBS Lending Ltd panel is any good?
seeking recommendations is a good starting point. 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 advocate that you speak with the lawyer conducting your transaction
My ex -wife’s name is on the MBS Lending Ltd mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the MBS Lending Ltd mortgage in order to sell?
As regards the MBS Lending Ltd mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of MBS Lending Ltd in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.