Holmesdale Building Society Conveyancing Panel Information

In order to be on the Holmesdale 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 Holmesdale Building Society) are as follows:

• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
• 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 keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
• To quote on all communications with us relating to deeds/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 forward the title deeds and documents to another solicitor/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.

Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Holmesdale Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Holmesdale Building Society we suggest that you call Holmesdale Building Society to check the position.

In the same way that there is a unique Holmesdale Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

Please tread carefully here as what you are suggesting may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

In the circumstances please clarify on the application what steps you have taken to discover the reasons behind cancellation of your Holmesdale Building Society panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You should communicate with Holmesdale Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express question for lenders to enumerate who to contact to obtain standard documents. Holmesdale Building Society in their Part 2’s state: It helps to quote your Holmesdale Building Society solicitors panel number.