Handelsbanken Conveyancing Panel Information

You might expect Handelsbanken via their Part Two obligations to address this but the Handbook makes no mention on time frames. Do look at the Terms of Handelsbanken’s Conveyancing Panel Appointment that you entered into. For many lender's these Terms contain a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Handelsbanken informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

You will be aware of the trend in recent years for lenders such as Handelsbanken to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the Handelsbanken panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and Handelsbanken have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires Handelsbanken’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for Handelsbanken. You will no doubt be required to undertake directly to Handelsbanken’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off the Handelsbanken conveyancing panel.

Assuming that your practice in is on the Handelsbanken conveyancing panel and you are representing 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 landlord.

It would be advisable to provide 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 application but gives the Law Society viability as to what has gone on.

You would be advised to communicate with Handelsbanken to obtain standard documents. The CML Handbook contains an express question for banks to reveal who to contact to obtain standard documents. Handelsbanken in their Part 2’s state: Always remember to quote the firm’s Handelsbanken conveyancing panel number.