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Mansfield Building Society Solicitor Panel Assistance:
What are the Mansfield Building Society conveyancing panel criteria?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
We do not have our own separate conveyancing panel. Conveyancers must be on the Law Society/Licensed conveyancers website. The Society does not allow Licensed Conveyancers or solicitors who are a sole trader to act, insisting on a minimum of 2 partners. The practicing certificates for all partners at the office are obtained, and any new requests to join the panel will initially require the completion of a conveyancing panel questionnaire. The validity of a firm is verified and checks are made to identify any disciplinary issues against the individual/firm, and evidence of PII cover is also obtained which must be for a minimum of £2m per claim (£3m for relevant recognised bodies or relevant licensed bodies).. A.13. The BSA Mortgage Instructions do not affect any responsibilities that you have to us under the general law or any practice rule or guidance issued by your professional body from time to time.
You must also comply with the terms and conditions of your Mansfield Building Society solicitor panel appointment.
Are Mansfield Building Society Conveyancing panel lawyers exposed to the possibility of the society amending or withdrawing the mortgage?
Mansfield Building Society ‘s answer to this question can be found at section B.3 of their BSA specific requirements which states:
The Offer of Advance may be withdrawn or varied in any of the following circumstances:
- Where the Society has been asked to issue the Offer of Advance on a different basis.
- Where the Society is notified that the mortgage or additional borrowing no longer required.
- Where to proceed to legal completion would be, or the Society has reasonable grounds for believing that it would be, unlawful.
- Where after the date of the Offer of Advance it is discovered, or the Society has reasonable grounds for believing, that:
- There has been a material misrepresentation, non-disclosure, or provision of incorrect or misleading information concerning your current or future personal or financial circumstances by the applicant, the mortgage intermediary or a 3rd party acting for the applicant, which had the Society been aware of the true position would have meant that this would not have been issued or not issued on the same terms in all material aspects.
- There has been a significant adverse change in the applicants current or future personal circumstances and that they, their mortgage advisor/intermediary, or a 3rd party acting for them, have not informed us.
- There is material damage to, or destruction of, the Property.
- Where after the date of the Offer of Advance, the Society has become aware of any actual or threatened criminal proceedings (other than for minor road traffic offences) against the applicant or any proposed guarantor.
- Where the special requirements set out in the sections of the Offer of Advance headed ‘Special requirements to be satisfied by you’ and/or ‘Special requirements to be satisfied by your legal adviser’ cannot be fully complied with and/or satisfactorily satisfied.
- Where it is found, through the investigation of legal title, that there are material matters that affect the Property and which adversely impact on the basis of the Society’s valuation of the Property, and on the suitability of the Property as security for the loan specified in this Offer of Advance.
Will the fact that my practice receives LENDERmonitor Alerts help in my application to join the Mansfield Building Society solicitor panel?
The requirements to join the Mansfield Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
My client is buying a semi detached house for
£740k in Mill Hill with a mortgage over GBP 415k.
I am on the Mansfield Building Society conveyancing panel but do Mansfield Building Society have a separate approved panel when the advance is above 350k?
Lexsure only know of a couple of lenders that operate a separate conveyancing panel where the mortgage advance is over a certain amount.
You should nevertheless check directly with Mansfield Building Society. At one stage HSBC would only allow Sole practitioners to act for
them where the mortgage was below £150,000. We are not sure if HSBC
still operate such a condition. In your case it is best to check with
Mansfield Building Society
Are the Council of Licensed Conveyancers taking any action to protect licensed conveyancers from being removed from lender panels?
The CLC has begun dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as Mansfield Building Society as well as the CML
Why did the BSA introduced its own instructions?
The Building Society Association introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
Are there conditions, outside the BSA Mortgage Instructions, that a
firm should be aware of when on the Mansfield Building Society
conveyancing panel?
In order to be on the Mansfield Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Mansfield Building Society) are as follows:
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
- To forward the title deeds and documents to another conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
- To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
- To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the Mansfield Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Mansfield Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Mansfield Building Society Firms
- Draft Report on Title precedent for Mansfield Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Mansfield Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Mansfield Building Society lender panel
- Buy-to-Let help for Mansfield Building Society
- Consent-to-Let help for Mansfield Building Society
- Contractor Mortgages with Mansfield Building Society
