FAQs for the Handelsbanken Solicitor Panel from members of the public
My wife and I are novices when it comes to buying a property. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Handelsbanken have this morning contacted us to advise us that there is now an issue as our solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Handelsbanken and see if they can apply for membership of the Handelsbanken conveyancing panel, but if that is not viable Handelsbanken will instruct their own lawyers to represent them. You don't have to instruct a firm on the Handelsbanken conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
can you help? My lawyer is advising me that he has to conduct a Local Authority search because the firm are on the Handelsbanken approved lawyer panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. As you are taking a mortgage with Handelsbanken your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Handelsbanken’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Handelsbanken. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I see that you have a post code search directory listing firms on the Handelsbanken conveyancing panel. Do firms pay you a referral fee if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Handelsbanken conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am considering applying for a Handelsbanken mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Handelsbanken?
There is nothing to stop you using your solicitor but Handelsbanken will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Handelsbanken 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.
My husband and I are in the process of viewing flats and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Handelsbanken
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Handelsbanken , make sure you remember to check that your lawyer is on the Handelsbanken conveyancing panel.
Handelsbanken have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Handelsbanken or your broker and complete any relevant paperwork. Handelsbanken will tell you what documents they want. Handelsbanken will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Handelsbanken will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.