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MBS Lending Ltd conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the MBS Lending Ltd conveyancing panel. If they are not, this does add further risk of delay as MBS Lending Ltd will appoint their own solicitors to look after their interest.

You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the MBS Lending Ltd approved panel is to comply with the CML Handbook requirements (last updated for this lender on MBS Lending Ltd). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

We are a listing service only for law firms wishing to communicate if they are on the MBS Lending Ltd conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.

If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the MBS Lending Ltd conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help

Banks and Building Societies such as MBS Lending Ltd can revoke their mortgage offer although this is unusual. If MBS Lending Ltd withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:

• Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.

• Where to proceed with the Mortgage offer would be unlawful

• Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion

• Where the Lender’s right to possession is fettered in some way

• If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances

You will need to appoint solicitors independently although you'll need to choose one on the MBS Lending Ltd conveyancing panel. The solicitor represents both you and the MBS Lending Ltd through the process.

The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up MBS Lending Ltd or your broker and complete any relevant paperwork. MBS Lending Ltd will tell you what documents they want. MBS Lending Ltd will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. MBS Lending Ltd will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.