Hanley Economic Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This software assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Hanley Economic Building Society’s changes. Notwithstanding that utilising the tool is not a prerequisite for Hanley Economic Building Society , demonstrating you can remain up to date with Hanley Economic Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Hanley Economic Building Society

Banks and building societies frequently 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, frequently:

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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Frequently asked questions relating to the Hanley Economic Building Society Conveyancing Panel from members of the public

We are purchasing a 2 bedroom apartment in London with a mortgage from Hanley Economic Building Society. We have a lawyer but Hanley Economic Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Hanley Economic Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Hanley Economic Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Hanley Economic Building Society
My fiance and I are refinancing our penthouse with Hanley Economic Building Society. We have a son 18 who lives with us. The solicitor on the Hanley Economic Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Hanley Economic Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Hanley Economic Building Society .This is solely used to protect the Hanley Economic Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Hanley Economic Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Hanley Economic Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Hanley Economic Building Society Conveyancing panel in advance of completion?
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.
I previously instructed online conveyancers located in Cardiff who are on the Hanley Economic Building Society solicitor panel. They have just invoiced me a separate fee of £175 for dealing with the Hanley Economic Building Society mortgage. Is this a supplemental conveyancing fee set by Hanley Economic Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Hanley Economic Building Society but by your lawyers. Some firms on the Hanley Economic Building Society will charge an ‘acting for lender’ fee and others do not.
I have not been happy with the level or service received from my lawyer. Is there a Hanley Economic Building Society conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Hanley Economic Building Society. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.

The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.

If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.

I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Hanley Economic Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Hanley Economic Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Hanley Economic Building Society. Unless your lawyer obtains specific confirmation in writing that Hanley Economic Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Hanley Economic Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.