Looking for information about your firm's panel status?
Marsden Building Society Solicitor Panel Assistance:
What are the Marsden 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:
The Society uses Legal Marketing Services Ltd (LMS) for its panel arrangements who will require the following information:
1) Up to date practising certificate
2) Copy of professional indemnity insurance
3) Confirmation that you have adequate fire storage facilities
4) Confirmation that you are already a panel member of at least 6 recognised lenders
Please contact the Society through the LMS SecureLink portal on the Conveyancer Zone. Alternatively you can contact the Lending Services Department by telephoning 01282 440500 or emailing completions-post@themarsden.co.uk
You must also comply with the terms and conditions of your Marsden Building Society solicitor panel appointment.
A long standing client of my firm is buying a semi detached house for
£825k in Newcastle with a mortgage over GBP 415k.
I am on the Marsden Building Society conveyancing panel but do Marsden Building Society have a separate approved panel when a mortgage is above 350k?
We only know of a couple of lenders that operate a separate conveyancing panel where the mortgage advance is over a certain amount.
You should nevertheless check directly with Marsden Building Society. At one stage HSBC would only allow Sole practitioners to act for
them where the mortgage was below £150,000. We are not sure if HSBC
still operate such a condition. In your case it is best to check with
Marsden Building Society
Being on the Marsden Building Society conveyancing panel how long am I expected to archive the complete conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for at least 6 years from the date of the mortgage. Data imaging is normally suitable
compliance with this requirement. As a firm on the Marsden Building Society conveyancing panel you must allow Marsden Building Society to conduct such reasonable audit of your
information security measures as Marsden Building Society or their
agents may to ensure your compliance with your file retention
obligations.
Why has the BSA 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.
Are there conditions, outside the BSA Mortgage Instructions, that a
firm should be aware of when on the Marsden Building Society
conveyancing panel?
In order to be on the Marsden 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 Marsden Building Society) are as follows:
- That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
- 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 quote on all communications with us relating to registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- 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
- To forward the title deeds and documents to another conveyancer 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.
The firm that I work for is on the Marsden Building Society conveyancing panel. I am
dealing with Marsden Building Society mortgage on a purchase. My
borrower client is asking not to disclose an issue to Marsden Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Marsden Building Society 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 your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Marsden Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Marsden Building Society of 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 Marsden Building Society conveyancing panel status.
Do publish figures exists disclosing the Marsden Building Society conveyancing panel size and the number of conveyancing firms removed from their panel each year?
With mortgage companies and solicitors working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Marsden Building Society conveyancing panel but for all bank panel listings
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 Marsden Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Marsden Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Marsden Building Society Firms
- Draft Report on Title precedent for Marsden Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Marsden Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Marsden Building Society lender panel
- Buy-to-Let help for Marsden Building Society
- Consent-to-Let help for Marsden Building Society
- Contractor Mortgages with Marsden Building Society
