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Holmesdale Building Society Conveyancing Panel: Recently Asked Questions
Is it conceivable that
Holmesdale Building Society
will assign another lawyer on the
Holmesdale Building Society
conveyancing panel for a further advance during the lifetime of a mortgage?
Paragraph 16.2.1 of the UK Finance Lenders’ Handbook relevant to a solicitor on the
Holmesdale Building Society
conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel?
The fact of the matter is that estate agents are feeling the pain if their clients start out on the conveyancing process having appointed a conveyancer who is not on the panel with the purchaser’s chosen lender. Many
conveyancing firms are only discovering when they begin working on a
case that they are no longer able to work with that lender. Given
the inevitable resultant delays in the transaction the chances of an
abortive deal increases dramatically. in the circumstances there is
understandable anguish on the part of the estate agent as a result of
the lost time should the client have to change lawyers.
Theoretically Holmesdale Building Society could request or audit my files as I am on the
Holmesdale Building Society conveyancing panel. How should I respond in the event of such a demand?
We can't comment specifically on
Holmesdale Building Society. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.
Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in arrears with the lender he is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.
What type of firms 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.
Every so often I read a LENDERmonitor notification but I seldom see significant changes. For example, My firm on the
Holmesdale Building Society conveyancing panel and get an alerts only advising of a change of address. Does that matter?
It is important that you take note of such changes because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also impact your chances of staying on the
Holmesdale Building Society solicitor panel. Is possible next month that Holmesdale Building Society change their requirements as to where the post completion documents should be sent.
Do you change the details in your CMS? Is this recorded anywhere? Is this communicated to the staff? In your Certificate of Title to Holmesdale Building Society you are giving assurances that you will forward the deeds within 10 days of receiving the Title Information Document. Putting to one side the academic question as to whether you are technically breaching an undertaking in sending it to the wrong address, you run the risk of
Holmesdale Building Society suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to their old address.
We had our Holmesdale Building Society panel membership terminated but we have not yet been given an explanation yet.
I am completing a CQS renewal form what information should I disclose?
In the circumstances please clarify 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 putting you on notice?
Our practice is on the
Holmesdale Building Society
conveyancing panel and due to complete a remortgage within the next few weeks. I dont have a Mortgage Deed for the client to sign.
Who do I contact at Holmesdale Building Society to request substitute deeds?
You would be advised to communicate with Holmesdale Building Society
to obtain standard documents. The CML Handbook incorporates a specific section for banks to set out who to contact to obtain standard documents.
Holmesdale Building Society in their Part 2’s state:
Please remember to quote the firm’s Holmesdale Building Society solicitors panel number.
Find a Lawyer on the Holmesdale Building Society Solicitor Panel
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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.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Holmesdale Building Society Firms
- Draft Report on Title precedent for Holmesdale Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Holmesdale Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Holmesdale Building Society lender panel
- Buy-to-Let help for Holmesdale Building Society
- Consent-to-Let help for Holmesdale Building Society
- Contractor Mortgages with Holmesdale Building Society
