Halifax Loans Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This software optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Halifax Loans’s changes. Notwithstanding that utilising the software is not a prerequisite for Halifax Loans , demonstrating you can stay up to date with Halifax Loans’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. It is also user friendly, cost-effective and, for many firms, results in a PII saving.

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Banks and building societies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Halifax Loans are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes


Since 2008, Halifax Loans has made 151 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 18.1 days. In total, 19% of the sections of P2 of the UK Finance Lenders’ Handbook for Halifax Loans have been changed since 15/12/2008.

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Halifax Solicitor Panel Example Support Desk Enquires from members of the public

What is the rationale as to why all solicitors aren't included on the Halifax Conveyancing panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Expecting to complete my purchase next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Halifax. What does the insurance need to cover?
All property lawyers on the Halifax conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Halifax’s Part 2 requirements of the CML Handbook (last updated on Halifax). Being on the Halifax conveyancing panel your lawyer is expect to follow these requirements.
Do I have to visit the offices of the Halifax conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Manchester so that I can pop in to their offices if required.
Most conveyancing panel lawyers for Halifax undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am considering applying for a Halifax mortgage for purchase of a new build (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Halifax?
In theory, you could use a solicitor that is not on Halifax conveyancing panel, but Halifax would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
When it comes to mortgage companies such as Halifax do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have a mortgage with Halifax. My godfather has just retired and wants to pay off the mortgage left on the property. After Halifax is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Halifax conveyancing panel? I do not intend to live at the property once the Halifax mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Halifax panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
I currently have a mortgage with with Halifax. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Halifax?
Halifax must be informed of your intention in advance of renting your property as this is likely to be a breach of Halifax’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Halifax directly. You need not do this via a Halifax conveyancing panel solicitor.