Holmesdale Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Holmesdale Building Society’s changes. Even though utilising the tool is not a prerequisite for Holmesdale Building Society , demonstrating you can stay up to date with Holmesdale Building Society’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your firm’s panel status.

The software generates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Holmesdale Building Society

Mortgage companies often vary 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, over time:

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

Can you please explain the reason why all UK lawyers are not on the Holmesdale Building Society Conveyancing panel?
Holmesdale Building Society and other banks ordinarily restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Holmesdale Building Society have no responsibility for the quality of advice provided by any member of Holmesdale Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Our lawyer has uncovered a defect with the lease for the apartment we are buying. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the Holmesdale Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Holmesdale Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Holmesdale Building Society are the client. 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Holmesdale 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.
Whilst your website is a good idea there are many lawyers listed near Manchester on the Holmesdale Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Holmesdale Building Society ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I was expecting to move into my first house two days ago. My solicitor is on the Holmesdale Building Society solicitors panel but has changed address in the past couple of months and had not advised Holmesdale Building Society of their new address. Holmesdale Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Holmesdale Building Society branch or your mortgage broker to see if they can help.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Holmesdale Building Society conveyancing panel requirements are different to Holmesdale Building Society’s conveyancing panel requirements.
I have a mortgage with Holmesdale Building Society. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Holmesdale Building Society?
Holmesdale Building Society must be informed of your intention prior to renting your property as this is likely to be a breach of Holmesdale Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Holmesdale Building Society directly. It should not be necessary to do this via a Holmesdale Building Society conveyancing panel solicitor.
Can I register a complaint to Holmesdale Building Society about the lawyers being on the Holmesdale Building Society conveyancing panel?
There is little point in complaining directly to Holmesdale Building Society. All solicitors 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.