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approved by Holmesdale BS
Ready to buy a new home? Failing to check that a lawyer is on the Holmesdale BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Holmesdale Building Society Conveyancing Panel
Frequently asked questions relating to the Holmesdale Building Society Conveyancing Panel
Is the fact that my solicitor is not isted on the Holmesdale Building Society Solicitor panel that there is a problem with the standard of her work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Holmesdale Building Society.
Our conveyancer has identified a defect with the lease for the flat we are buying. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer 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. Who is the client here, us or 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.
I see that you have a post code search directory identifying firms on the Holmesdale Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my own conveyancing?
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 Leeds have advised me that they can not locate 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 number of years?
It very much depends from lender to lender 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.
Is it common for Holmesdale Building Society to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Holmesdale Building Society can withdraw their mortgage offer although this is unusual. If Holmesdale Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
- Holmesdale Building Society may amend or withdraw an offer if the Holmesdale Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs Holmesdale Building Society of a change in the loan amount agreed
- Where to proceed with the Mortgage offer would be unlawful
- Where the sale is not at arms length for value to unconnected persons
- Where the Lender’s right to possession is fettered in some way
I have today made my last payment due on mortgage with Holmesdale Building Society. I assume I don't need a solicitor on the Holmesdale Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Holmesdale Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Holmesdale Building Society mortgage from the register. Holmesdale Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Holmesdale Building Society has sent the Land Registry the discharge electronically, and
the Holmesdale Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Holmesdale Building Society mortgage has been paid off.
Intending to buy a house with a mortgage with Holmesdale Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Holmesdale Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Holmesdale Building Society conveyancing panel