Looking for information about your firm's panel status?
Mansfield Building Society Conveyancing Panel Information:
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.
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
Many estate agents are feeling the pain if their clients start out on the conveyancing process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
Being on the Mansfield Building Society conveyancing panel how long am I obliged to keep hold of the complete conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for a minimum six years from the date of the mortgage. Data imaging is normally suitable
compliance with this requirement. As a firm on the Mansfield Building Society conveyancing panel you must allow Mansfield Building Society to conduct such reasonable audit of your
information security measures as Mansfield Building Society or their
agents may to ensure your compliance with your file retention
obligations.
Why has the Building Society Association introduced differing instructions from the CML?
The BSA 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.
What reports are available via COMPLETIONmonitor to assist my appeal to be reinstated on the Mansfield Building Society solicitor panel?
There are many reports available but examples include:
- Average time frame to register charges at the Land Registry
- Average time frame to send deeds to the lender (calculated from completion date or title registration)
- Number of conveyancing cases by lender
- The percentage of the firm’s business which is conveyancing (purchase and remortgage)
- Average mortgage advance
- Buy to Let transactions
- Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
- Evidence of undertaking logs
- Current and historic missed priority dates
- Analysis as to the nature of clients (e.g. seen in person)
I seldom receive a copy of a lender valuation any more. Do my Mansfield Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Mansfield Building Society as the lender?
There are various requirements are to be followed if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an out of date postal address or DX details.
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
