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M&S Bank Solicitor Panel: Recently Asked Questions
I am on the M&S Bank conveyancing panel. Can I get an archived copy of a M&S Bank Part 2 from the CML?
The Council of Mortgage Lenders do not maintain historic copies of P2 conditions pre-December 2010. The CML recommend you contact M&S Bank directly.
Do the Council of Mortgage Lenders intend to launch a online directory search tool with a view
to to identify practices on the
M&S Bank conveyancing panel?
We are not aware of any intention on the part of the CML to develop such a register.
The firm that I work for is on the
M&S Bank conveyancing panel. I am dealing with
M&S Bank mortgage on a purchase. My borrower client is asking not to disclose an issue to
M&S Bank. What do I do in this conflict situation?
When a solicitor is acting for both
M&S Bank and borrower there is potential for conflicts
to arise. You owe duties to both clients. All information received by
you from your client is confidential and cannot be disclosed without
the client’s consent. In the situation you find yourself in if the
purchaser will not consent to the information being passed on to the
lender the solicitor must cease to act for the M&S Bank
and it may well be prudent you to cease to act for the purchaser as
well. You can not tell the M&S Bank the reason for
termination of the retainer over and above the fact that a conflict
has arisen. The fact that you can no longer act should alert even the
most somnambulistic of lenders that something is wrong with the
borrower and/or purchase. The fact that you have disinstructed
yourself should not affect your M&S Bank conveyancing
panel status.
Where can I find the M&S Bank conveyancing panel requirements in respect of Transfer of Equity Conveyancing?
M&S Bank approved solicitors are bound by the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if
M&S Bank require, the deed of covenant on their behalf. You will need to check
M&S Bank CML Part 2 conditions to see if
M&S Bank have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the
M&S Bank conveyancing panel
Our membership of the
M&S Bank conveyancing panel was terminated but was reinstated on appeal, do I need to include this information on my CQS application?
We would recommend that you provide details of the date of removal, information on the reason for
removal, date of appeal and any reason given for reinstatement. This
should not adversely impact your application but gives the CQS team a complete picture of what has gone on.
I am on the
M&S Bank
conveyancing panel and due to complete a purchase within the next few weeks. My file does not contain a Legal Charge for the client to execute.
Who do I contact at M&S Bank to get a duplicate Deed?
You need to communicate with M&S Bank
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific inquiry for lenders to reveal who to contact to obtain standard documents.
M&S Bank in their Part 2’s state:
It is likely that you will need to quote the firm’s M&S Bank conveyancing panel number.
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Average number of days to register title including a charge in favour of M&S Bank
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
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- Draft Anti Money Laundering PolicyTemplate for M&S Bank panel firms to consider
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