Hanley Economic Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and professional indemnity insures. It is a unique risk management tool.

This system assists the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Hanley Economic Building Society’s changes. While utilising the tool is not a condition for being on the Hanley Economic Building Society panel, demonstrating you can stay up to date with Hanley Economic Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your panel standing.

The system creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to a PII saving.

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Mortgage companies often change 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 29 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 94.1 days. In total, 4% of the sections of the BSA Requirements for Hanley Economic Building Society have been changed since 26/1/2010.

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Hanley Economic Building Society Solicitor Panel Example Support Desk Enquires from members of the public

On what basis could a firm of solicitors be excluded from the Hanley Economic Building Society solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :
  1. Low volume 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
Our solicitor has identified a problem with the lease for the flat we are buying. The other side have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the Hanley Economic Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Hanley Economic Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Hanley Economic Building Society are the client. 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Hanley Economic Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Hanley Economic Building Society conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My solicitors in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Hanley Economic Building Society. Is it case that being on the Hanley Economic Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Hanley Economic Building Society Conveyancing Panel Terms. It might be worth you contacting Hanley Economic Building Society directly.
We have a mortgage agreed in principle with Hanley Economic Building Society. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Hanley Economic Building Society?
Some lenders take longer than others. Have Hanley Economic Building Society done the valuation? Have you advised Hanley Economic Building Society as your lawyers details and checked that your lawyer is on the Hanley Economic Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
After much negotiation I have agreed a price on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me to say that they were not on the Hanley Economic Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Hanley Economic Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have instructed a lawyer having made sure that they are on the Hanley Economic Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Hanley Economic Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Hanley Economic Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Hanley Economic Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Hanley Economic Building Society you could contact your them to see if they have a list of approved surveyors.