Harpenden Building Society Conveyancing Panel Information

During 2013, 107 sections of the UK Finance Lenders’ Handbook P2 were changed by Harpenden Building Society. Some changes are more important than others but as a firm on the Harpenden 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.

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Harpenden Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Harpenden Building Society conveyancing panel to see if you are entitled to a reason.

There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Harpenden Building Society immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Harpenden Building Society’s mortgage offer are correct. If they are not, please let Harpenden Building Society know as soon as possible as it will be necessary for Harpenden Building Society to check with the valuer whether the valuation needs to be revised. Harpenden Building Society conveyancing panel solicitors are not expected to assume the role of valuer. Harpenden Building Society are simply trying to ensure that the valuer has valued the property based on correct information. Thirdly, Harpenden Building Society recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Harpenden Building Society recommend that, if we send a copy of a valuation report that Harpenden Building Society have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Harpenden Building Society or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Harpenden Building Society conveyancing panel

In this situation please clarify on the form what steps you have taken to find out the reasons behind cancellation of your Harpenden Building Society panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You should contact Harpenden Building Society to obtain standard documents. The CML Handbook incorporates a specific section for banks to enumerate who to contact to obtain standard documents. Harpenden Building Society in their Part 2’s state: Please remember to quote your Harpenden Building Society conveyancing panel reference.