Halifax Loans Conveyancing Panel Information

The CML, along with Halifax Loans and other members developed a standard set of requirements where a conveyancer is acting for a lender such as Halifax Loans alone in a residential conveyancing transaction. These legal instructions are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II. The CML have published an example requirements letter to the borrower’s lawyer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

The CML Part II requirements of Halifax Loans are silent on this. Most mortgage companies deal with the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Halifax Loans’s interest. To be absolutely sure of Halifax Loans requirements in this regard please check the Terms and Conditions of Halifax Loans’s conveyancing panel appointment.

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 Halifax Loans 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.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Halifax Loans solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You should contact Halifax Loans to obtain standard documents. The CML Handbook has an express inquiry for banks to reveal who to contact to obtain standard documents. Halifax Loans in their Part 2’s state: Always remember to disclose your Halifax Loans solicitors panel reference.