Market Harborough Building Society Conveyancing Panel Information

There are many reports available, five of which are as follows:

• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Buy to Let transactions
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Average mortgage advance
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)

Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Market Harborough Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Market Harborough Building Society we suggest that you call Market Harborough Building Society to check the position.

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 Market Harborough 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.

Market Harborough Building Society approved solicitors are bound by the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Market Harborough Building Society require, the deed of covenant on their behalf. You will need to check Market Harborough Building Society CML Part 2 conditions to see if Market Harborough Building Society have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Market Harborough Building Society conveyancing panel

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 firm’s application but gives the Law Society viability as to what has happened.

You should communicate with Market Harborough Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express section for banks to establish who to contact to obtain standard documents. Market Harborough Building Society in their Part 2’s state: It helps to disclose the firm’s Market Harborough Building Society solicitors panel number.