Holmesdale Building Society Conveyancing Panel Information

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Holmesdale Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

SRA or equivalent regulator registration number where applicable

Full disciplinary history for each conveyancing solicitor

Structure of firm and, where applicable, its group

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

List of all those staff who work within the conveyancing team

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

List of all Licensed Conveyancers within firm

Summary of annual accounts

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

Full disciplinary history for each licensed conveyancer

During 2013, 18 sections of the UK Finance Lenders’ Handbook P2 were changed by Holmesdale Building Society. Some changes are more important than others but as a firm on the Holmesdale 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.

Holmesdale Building Society approved solicitors are bound by the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Holmesdale Building Society require, the deed of covenant on their behalf. You will need to check Holmesdale Building Society CML Part 2 conditions to see if Holmesdale Building Society have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Holmesdale Building Society conveyancing panel

In this situation please explain on the form what steps you have taken to find out 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 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 get in touch with Holmesdale Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express inquiry for banks to cite who to contact to obtain standard documents. Holmesdale Building Society in their Part 2’s state: You will need to disclose your Holmesdale Building Society solicitors panel reference.