Manchester Building Society Conveyancing Panel Information

Many estate agents will be suffering if their clients start out on the buying 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 .

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Manchester Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Areas of Law covered by the firm

List of fee-earners who are foreign qualified

Whether the firm has ever applied for accreditation and the outcome of the application

purchase and remortgage)

Full complaints history for each conveyancing solicitor

Number of partners per branch of the firm

House price discrepancies (declared to lender vs. registered at Land Registry)

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

List of all Licensed Conveyancers within firm

Full complaints history for each licensed conveyancer

During 2013, 30 sections of the UK Finance Lenders’ Handbook P2 were changed by Manchester Building Society. Some changes are more important than others but as a firm on the Manchester Building Society conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

With banks and conveyancers working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Manchester Building Society conveyancing panel but for all lender panel listings

CQS membership is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their panels. Some mortgage companies now use the Conveyancing Quality Scheme accreditation as the starting point for Panel acceptance such as Astra Mortgages.

You would be advised to communicate with Manchester Building Society to obtain standard documents. The CML Handbook incorporates a specific question for banks to reveal who to contact to obtain standard documents. Manchester Building Society in their Part 2’s state: You will need to disclose your Manchester Building Society conveyancing panel reference.