Mansfield Building Society Conveyancing Panel Information

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.

The Offer of Advance may be withdrawn or varied in any of the following circumstances: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 3^rd 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 3^rd 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.