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):

Full disciplinary history for each licensed conveyancer

top-up split and history of any refusals

SRA or equivalent regulator registration number where applicable

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.

Summary of annual accounts

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

List of all Licensed Conveyancers within firm

Full disciplinary history for each conveyancing solicitor

List of all those staff who work within the conveyancing team

In order to be on the Holmesdale Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Holmesdale Building Society) are as follows:

• To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• 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.)
• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request

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.

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 Holmesdale Building Society 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 moving forward on this question.

In the circumstances please clarify on the form what steps you have taken to discover 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 cessation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You need to communicate with Holmesdale Building Society to obtain standard documents. The CML Handbook has a specific question for banks to set out who to contact to obtain standard documents. Holmesdale Building Society in their Part 2’s state: It is likely that you will need to quote your Holmesdale Building Society conveyancing panel number.