Holmesdale Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This system is the only way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Holmesdale Building Society’s changes. Even though using the tool is not a condition for being on the Holmesdale Building Society panel, demonstrating you can remain up to date with Holmesdale Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Holmesdale Building Society

Lenders often 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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Holmesdale Building Society Solicitor Panel Sample Enquires to our Call Center from members of the public

We are purchasing a 2 bedroom apartment in London with a mortgage from Holmesdale Building Society. We like our solicitor but Holmesdale Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Holmesdale Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Holmesdale Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Holmesdale 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Holmesdale Building Society
My fiance and I intend to remortgage our flat with Holmesdale Building Society. We have a son 19 who lives with us. The solicitor on the Holmesdale Building Society conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Holmesdale Building Society conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Holmesdale Building Society conveyancing panel solicitor is doing the right thing 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 Holmesdale Building Society .This is solely used to protect the Holmesdale 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 Holmesdale 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.

Whilst your website is a good idea there are many lawyers listed near Hackney on the Holmesdale Building Society conveyancing panel. Can you recommend a specific firm on the Holmesdale Building Society approved panel?
We are not in the business of recommending one firm above another 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 supposed to move into my dream home last Thursday. My solicitor is on the Holmesdale Building Society conveyancing panel but has moved offices 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 as unusual as it is unlucky. 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 help.
Last month we had a mortgage agreed in principle with Holmesdale Building Society. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Holmesdale Building Society?
There is no definitive answer here. Have Holmesdale Building Society conducted the valuation? Have you advised Holmesdale Building Society as your lawyers details and checked that your lawyer is on the Holmesdale Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
Completion of my remortgage has taken place with a mortgage from Holmesdale Building Society. Conveyancing was satisfactory but I feel I should register my dissatisfaction about Holmesdale Building Society. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the Holmesdale Building Society branches or the Customer Care Team at Holmesdale Building Society head office. In most cases complaints to Holmesdale Building Society are resolved very quickly. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My offer was accepted on a property on the 12th February 2014, valuation was booked 2 days later, received a clean bill of health. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Holmesdale Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Holmesdale Building Society conveyancing panel. Are Holmesdale Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Holmesdale Building Society to deal with your lawyers application to be on the Holmesdale Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.