Holmesdale Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Holmesdale Building Society and to assist in remaining on the Holmesdale Building Society Solicitor Panel.

Holmesdale Building Society Conveyancing Panel: Recently Asked Questions

Are Holmesdale Building Society Conveyancing panel lawyers duty bound to disclose incentives?
Holmesdale Building Society’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

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Can my practice submit a complaint to the CML about being suspended from the Holmesdale Building Society conveyancing panel?
The CML is an association rather than a regulator and therefore cannot investigate complaints against lenders. You can of course contact Lexsure to see if we can assist.
Can you give me an example of some of the reports available via COMPLETIONmonitor to support my application to be on the Holmesdale Building Society conveyancing panel ?
There are many reports available, five of which are as follows:
  • Average mortgage advance
  • Evidence of undertaking logs
  • Number of conveyancing cases by lender
  • Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
  • Average time frame to send deeds to the lender (calculated from completion date or title registration)
Who do building societies include on their Conveyancing Panels?
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.
I seldom receive a copy of a lender valuation any more. Do my Holmesdale Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Holmesdale Building Society as the lender?
There are various requirements are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (I) 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 Holmesdale Building Society immediately. (II) 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 Holmesdale Building Society’s mortgage offer are correct. If they are not, please let Holmesdale Building Society know as soon as possible as it will be necessary for Holmesdale Building Society to check with the valuer whether the valuation needs to be revised. Holmesdale Building Society conveyancing panel solicitors are not expected to assume the role of valuer. Holmesdale Building Society are simply trying to ensure that the valuer has valued the property based on correct information. (III) Holmesdale 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. Holmesdale Building Society recommend that, if we send a copy of a valuation report that Holmesdale 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 report or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Holmesdale 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 Holmesdale Building Society conveyancing panel
We had our Holmesdale Building Society panel membership terminated but we have not yet been given an explanation yet. I am completing a CQS application questionnaire what information do I need to disclose?
In this situation please clarify on the application what action you have taken to discover the reasons behind cancellation of your Holmesdale Building Society panel membership. 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 putting you on notice?
I am on the Holmesdale Building Society conveyancing panel and all set to complete a purchase shortly. My papers do not include a Mortgage Deed for the client to execute. Who do I contact at Holmesdale Building Society to get a duplicate Deed?
You need to communicate with Holmesdale Building Society to obtain standard documents. The CML Handbook incorporates an explicit question for lenders to set out who to contact to obtain standard documents. Holmesdale Building Society in their Part 2’s state:
You will need to quote your Holmesdale Building Society conveyancing panel number.

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Average number of days to register title including a charge in favour of Holmesdale Building Society
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 [no data]
2022 [no data]
2021 [no data]
2020 [no data]
2019 [no data]
* Data aggregated from sources including COMPLETIONmonitor