Handelsbanken Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This software optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Handelsbanken’s changes. While using the tool is not a condition for acceptance on the Handelsbanken panel, demonstrating you can remain up to date with Handelsbanken’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your firm’s panel standing.

The software generates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Handelsbanken

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Handelsbanken 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, Handelsbanken has made 33 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 82.7 days. In total, 10% of the sections of P2 of the UK Finance Lenders’ Handbook for Handelsbanken have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
1.14 14/10/2019 CML
1.15 14/10/2019 CML
16.4.2 14/10/2019 CML
1.7 14/10/2019 CML
5.9.1 14/10/2019 CML
6.6.4 14/10/2019 CML
6.7.1 14/10/2019 CML
6.7.4 14/10/2019 CML
5.20.3 14/10/2019 CML
7.3 02/03/2016 CML

Last update 28/03/2020

Q and A’s regarding the Handelsbanken Solicitor Panel from members of the public

My partner and I are novices when it comes to buying a property. Within the 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Handelsbanken have this evening contacted us to advise us that they have now hit a problem as our conveyancer is not on their approved list of lawyers. Is this a problem?
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 Accreditation 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 solicitors to act. You are not legally obliged to appoint a law firm on the Handelsbanken conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.

Expecting to complete my purchase next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Handelsbanken. What risks do Handelsbanken expect the insurance to cover?
All property lawyers on the Handelsbanken 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 Handelsbanken’s Part 2 requirements of the CML Handbook (last updated on Handelsbanken). Being on the Handelsbanken conveyancing panel your lawyer is expect to follow these instructions.
I am searching for conveyancing quotes online. Can I be sure that all the law firms that are identified on your directory are on the Handelsbanken conveyancing panel?
The law firms on our directory have advised us that they are on the Handelsbanken panel and agreed to advise us to take down their listing in the event of removal off of the Handelsbanken panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Handelsbanken conveyancing panel is incorrect.
I am considering applying for a Handelsbanken mortgage for purchase of a new build (under development) with 60% loan to value. 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 two solicitors involved, and it will undoubtedly be more expensive too.
Are all Conveyancing Quality Solicitors on the Handelsbanken conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
How can we tell if a solicitor on the Handelsbanken panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor handling your transaction
I'm in the throws of looking at houses 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
You should start obtaining conveyancing quotes from solicitors ASAP. 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 estate agent. As you are getting a mortgage with Handelsbanken , make sure you remember to check that your lawyer is on the Handelsbanken conveyancing panel.