Handelsbanken Conveyancing Panel Information

The Scottish Law Society has advised that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the Handelsbanken conveyancing panel. The suggestion arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com

We only know of a couple of banks that operate a separate approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Handelsbanken. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Handelsbanken

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Handelsbanken conveyancing panel to see if you are entitled to a reason.

On the basis that your practice in is on the Handelsbanken conveyancing panel and you are instructed by them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Handelsbanken are to lend, they may require indemnity insurance. In any event,you will need to check Handelsbanken’s specific requirements. Notwithstanding whether Handelsbanken will lend in such circumstances you still need to advise the borrower (unless you are acting for Handelsbanken alone) as to the risks of buying a property with an insolvent or absentee freeholder.

We would recommend that you supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your firm’s application but gives the CQS team a complete picture of what has occured.

You should communicate with Handelsbanken to obtain standard documents. The CML Handbook incorporates an individual inquiry for banks to establish who to contact to obtain standard documents. Handelsbanken in their Part 2’s state: Please remember to quote the firm’s Handelsbanken solicitors panel reference.