Hanley Economic Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with alerts on Hanley Economic Building Society’s changes. Notwithstanding that using this technology is not a condition for acceptance on the Hanley Economic Building Society panel, demonstrating you can stay up to date with Hanley Economic Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, protect your panel status.

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

Find a Law Firm approved by Hanley Economic Building Society

Mortgage companies often vary their requirements. The BSA instructions from Hanley Economic Building Society 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 2010, Hanley Economic Building Society has made 30 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 91.0 days. In total, 5% of the sections of the BSA Requirements for Hanley Economic Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Hanley Economic Building Society Conveyancing Panel : Questions and Answers from members of the public

On what basis could a law firm be excluded from the Hanley Economic Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :
  1. lack of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction
  4. regulatory contact by SRA
  5. accidental removal. We are not aware of the specific or common criteria for removal by Hanley Economic Building Society
My solicitor has identified a discrepancy when comparing the surveyor’s assumptions in Hanley Economic Building Society’s valuation survey and what is revealed within the legal papers for the property. My lawyer says that as he is on the Hanley Economic Building Society conveyancing panel he is duty bound to check that the lender is happy with this discrepancy and is content go ahead. Is my solicitor’s approach right?
A precondition to being on the Hanley Economic Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Hanley Economic Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I need to find a Hanley Economic Building Society panel solicitor in Inverness. Can you assist?
It is not clear why you need a Hanley Economic Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Hanley Economic Building Society to find out which solicitors in Hanley Economic Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
What happens if my lawyer’s firm is expelled from the Hanley Economic Building Society Conveyancing panel prior to the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
When it comes to lenders such as Hanley Economic Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
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 wife and I have arranged a further advance on our mortgage from Hanley Economic Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Hanley Economic Building Society conveyancing panel to deal with the legals?
Hanley Economic Building Society would not normally instruct firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Hanley Economic Building Society panel
We expect to receive a DIP from Hanley Economic Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Hanley Economic Building Society recommend a solicitor on the Hanley Economic Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Hanley Economic Building Society conveyancing panel. The solicitor represents both you and the Hanley Economic Building Society through the process.