MBS Lending Ltd Conveyancing Lender Panel Compliance Tool

Lexsure’s 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 assists the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on MBS Lending Ltd’s changes. Notwithstanding that using this technology 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 a helpful support to your application to their lender panel and, just as importantly, safeguard your 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 many firms, results in a PII saving.

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, frequently:

A Timeline of Policy Changes


Since 2010, MBS Lending Ltd has made 118 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 23.1 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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MBS Lending Ltd Conveyancing Panel Recently Asked Questions from members of the public

My fiance and I are FTBs. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. MBS Lending Ltd have this morning contacted us to inform me that they have now hit a problem as our solicitor is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.

In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyers should contact MBS Lending Ltd and see if they can apply for membership of the MBS Lending Ltd conveyancing panel, but if that is not viable MBS Lending Ltd will instruct their own lawyers to represent them. You don't have to instruct a firm on the MBS Lending Ltd conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.

My fiance and I intend to remortgage our apartment 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 any adults other than ourselves who lives in the flat. The solicitor has now sent a form 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 concerns (1) Is this form unique to the MBS Lending Ltd conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong 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.

Are there any apps to help search for a local solicitor on the MBS Lending Ltd conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the MBS Lending Ltd solicitor panel.
We're in London, First time buyers purchasing with a mortgage (lender is MBS Lending Ltd , but our lawyer is on the MBS Lending Ltd conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the MBS Lending Ltd conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
When it comes to mortgage companies such as MBS Lending Ltd do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We have agreed a price on a house I spoke to a solicitor previously used by my uncle and he suggested using a property lawyers approved by MBS Lending Ltd. The estate agent recommended two local firms so I asked MBS Lending Ltd if the 2 suggested solicitors are approved, which they are not. MBS Lending Ltd pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of MBS Lending Ltd 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask MBS Lending Ltd for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the MBS Lending Ltd conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto MBS Lending Ltd conveyancing panel as it may only take about 2-3 weeks. As long as they meet MBS Lending Ltd’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with MBS Lending Ltd?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the MBS Lending Ltd conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with MBS Lending Ltd and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.