Holmesdale Building Society Conveyancing Lender Panel Compliance Tool

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

This system optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on Holmesdale Building Society’s changes. While using this technology is not a condition for being on the Holmesdale Building Society panel, demonstrating you can stay up to date with Holmesdale Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Holmesdale Building Society

Lenders frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Holmesdale 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 2008, Holmesdale Building Society has made 31 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 88.1 days. In total, 14% of the sections of P2 of the UK Finance Lenders’ Handbook for Holmesdale Building Society have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
3.1.4 01/12/2014 CML
3.1.6 01/12/2014 CML
5.5.1a 01/12/2014 CML
6.14.1a 01/12/2014 CML
6.14.4 01/12/2014 CML
3.1.3 01/12/2014 CML
3.1.5 01/12/2014 CML
5.20.4 10/07/2013 CML
5.2.1 02/07/2012 CML
10.7 16/12/2010 CML

Last update 25/01/2020

Common questions asked concerning the Holmesdale Building Society Conveyancing Panel from members of the public

I instructed a law firm to work on my remortgage six weeks ago having applied for a mortgage with Holmesdale Building Society. The law firm confirmed to me that they are on Holmesdale Building Society conveyancing panel and provided me their panel reference. Holmesdale Building Society then called me to say that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the approved panel for Holmesdale Building Society?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Holmesdale Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Holmesdale Building Society as to how long they think it will take to get the firm to get back on the panel.
My conveyancer has identified a difference between the surveyor’s assumptions in Holmesdale Building Society’s valuation report and what is in the conveyancing documents. My lawyer says that as he is on the Holmesdale Building Society conveyancing panel he needs to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance right?
A precondition to being on the Holmesdale Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Holmesdale 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 you.
I see that you have a search directory identifying firms on the Holmesdale Building Society conveyancing panel. Do firms pay you a commission 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 Holmesdale Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My lawyers in London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Holmesdale Building Society. Is it case that being on the Holmesdale Building Society conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements 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 Holmesdale Building Society Conveyancing Panel Terms. It might be worth you contacting Holmesdale Building Society directly.
Are all Conveyancing Quality Solicitors on the Holmesdale Building Society conveyancing panel?
Some major banks and building societies now use CQS 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 Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
Why might a lender such as Holmesdale Building Society withdraw a mortgage offer?
Lenders such as Holmesdale Building Society can withdraw their mortgage offer although this is unusual. should Holmesdale Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
  • Many mortgage offers have an expiry date. Your lawyer should check this. Holmesdale Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
  • If the financial circumstances of the borrower have changed to the detriment and the Holmesdale Building Society has been notified
  • Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Where to proceed with the Mortgage offer would be unlawful
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
I am currently in the process of buying my council flat. I have a mortgage offer with Holmesdale Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Holmesdale Building Society you will need to appoint a solicitor on the Holmesdale Building Society conveyancing panel.