Mansfield Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Mansfield Building Society and to assist in remaining on the Mansfield Building Society Approved Conveyancing Solicitors Panel.

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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.

Can my practice submit a complaint to the BSA about being removed excluded suspended from the Mansfield Building Society conveyancing panel?

The BSA is an association rather than a regulator and therefore cannot investigate complaints against lenders. You can of course contact Lexsure to see if we can help.

A recent SRA survey reveals that three quarters of solicitors have been removed or threatened with removal from a lender conveyancing panel. Mansfield Building Society and other building societies have restricted their panel over the years. Why?

The feeling from lenders generally (we can not speak for Mansfield Building Society specifically), is that for too long solicitors have concentrated on their duty of care to their purchasing client, and have paid scant attention to the duty they owe to the lender, whom they conveniently forget is also their client.

Looking from the lenders’ perspective, it has to be said that there are pressures to encourage smaller panels. The Financial Services Authority regards the open panel system as a major contributor to mortgage fraud and negligence cases, and has been leaning on lenders to move to proactive panel management, which is more expensive the larger the panel. Hence it is becoming more common for lenders to charge fees, and/or require extensive form-filling, from would-be panel members

Mansfield Building Society and other BSA lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced.

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 forward the title deeds and documents to another solicitor 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 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 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 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 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

Can the BSA assist me in an appeal having not been accepted onto the Mansfield Building Society conveyancing panel?

If you have not been accepted or indeed been removed from the Mansfield Building Society conveyancing panel then the BSA will not have any part to play in influencing Mansfield Building Society in changing their mind. Please contact us here at Lexsure so that we can put you in touch with a consultant who may be able to assist. At the very least it’s worth a call to us.

The Council of Mortgage Lenders Handbook contains conveyancing instructions for a property with a solar panel. Mansfield Building Society do not seem to have any similar obligations via the BSA Mortgage Instructions. Am I missing something?

The BSA Mortgage Instructions don't specifically deal with Solar Panels but it would be prudent as approved solicitors for Mansfield Building Society to raise the issue with them (as you would if the UK Finance Lenders’ Handbook applied). In any event you need to raise the appropriate questions for your buyer client.

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

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*
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]
2020	[no data]
2019	[no data]

* Data aggregated from sources including COMPLETIONmonitor

Find solicitors on the Mansfield Building Society panel near you:

Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors