MBS Lending Ltd Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This software optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on MBS Lending Ltd’s changes. While utilising COMPLETIONmonitor is not a prerequisite for MBS Lending Ltd , demonstrating you can remain up to date with MBS Lending Ltd’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

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Mortgage companies 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 117 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 23.3 days. In total, 55% 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
B.7 30/07/2019 BSA
B.19 30/07/2019 BSA
C.14 30/07/2019 BSA
D.45 30/07/2019 BSA
E.1 30/07/2019 BSA
E.12 30/07/2019 BSA
E.26 30/07/2019 BSA
C.12 24/01/2018 BSA
C.12 06/03/2017 BSA
E.12 21/03/2016 BSA

Last update 17/01/2020

Frequently asked questions relating to the MBS Lending Ltd Solicitor Panel from members of the public

My fiance and I are buying a 2 bedroom flat in London with a mortgage from MBS Lending Ltd. We have a lawyer but MBS Lending Ltd says he's not on their "panel". It seems we have little choice but to instruct one of the MBS Lending Ltd panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that MBS Lending Ltd use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the MBS Lending Ltd conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for MBS Lending Ltd
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company MBS Lending Ltd will not agree to this. Why was MBS Lending Ltd even consulted?
Your lawyer being on the MBS Lending Ltd conveyancing panel is duty bound to inform MBS Lending Ltd of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to MBS Lending Ltd then they would have to discontinue acting for you and MBS Lending Ltd.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the MBS Lending Ltd solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
What happens if my lawyer’s firm is removed from the MBS Lending Ltd Solicitor panel before completion?
The first thing to point out is that, 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.
I am buying a property where the roof has a solar panel. MBS Lending Ltd have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is MBS Lending Ltd your lawyer must to check the MBS Lending Ltd conveyancing instructions contained in the Part of CML Handbook for MBS Lending Ltd . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to MBS Lending Ltd where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
The for formalities of my purchase has taken place with a loan from MBS Lending Ltd. Conveyancing was a necessary evil but I would like to complain about MBS Lending Ltd. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the MBS Lending Ltd branches or the Customer Services Department at MBS Lending Ltd head office. We understand that complaints to MBS Lending Ltd are sorted out very quickly. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
MBS Lending Ltd have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up MBS Lending Ltd or your broker and complete any relevant paperwork. MBS Lending Ltd will tell you what documents they want. MBS Lending Ltd will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. MBS Lending Ltd will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.