Holmesdale Building Society Conveyancing Panel Example Support Desk Enquires from members of the public
The solicitor my fiance and I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my mortgage is with Holmesdale Building Society due to their difficult processes! Will I regret using Holmesdale Building Society? Is Holmesdale Building Society conveyancing so much more difficult?
Holmesdale Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Holmesdale Building Society conveyancing panel. If they are not, this does add further risk of delay as Holmesdale Building Society will appoint their own solicitors to look after their interest.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Holmesdale Building Society will not agree to this. Why was Holmesdale Building Society even consulted?
Your lawyer being on the Holmesdale Building Society conveyancing panel is duty bound to inform Holmesdale Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Holmesdale Building Society then they would have to discontinue acting for you and Holmesdale Building Society.
I have been Googling for conveyancing quotes online. Can I be assured that all the law firms that are identified on your website are on the Holmesdale Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the Holmesdale Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Holmesdale Building Society panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Holmesdale Building Society conveyancing panel is incorrect.
I was due to move into my flat yesterday. My solicitor is on the Holmesdale Building Society conveyancing panel but has changed address 8 weeks ago and had not informed 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. The majority of 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 assist.
Do the majority of 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.
My ex -wife’s name is on the Holmesdale Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Holmesdale Building Society mortgage in order to sell?
In terms of the Holmesdale Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Holmesdale Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Holmesdale Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Holmesdale Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Holmesdale Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.