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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.
Looking for information about your firm's panel status?How does my firm apply to be on the Holmesdale Building Society Conveyancing Panel? How can my firm be reinstated onto the Holmesdale Building Society Conveyancing Panel?
Find an Approved Solicitor on the Holmesdale Building Society Conveyancing Panel
Common questions asked concerning the Holmesdale Building Society Solicitor Panel
The lawyer I had intended to instruct on a remortgage said she would charge more if my mortgage is with Holmesdale Building Society because of their unusual legal requirements. Am I likely to be frustrated using Holmesdale Building Society? Any comments will be appreciated
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.
I am purchasing a newly built flat and my conveyancer is advising me that she has to disclose incentives from the developer as her firm is on the Holmesdale Building Society conveyancing panel. I am under pressure to exchange contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. 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 Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I see that you have a post code search directory listing solicitors on the Holmesdale Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my 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.
I am considering applying for a Holmesdale Building Society mortgage for purchase of a new build (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Holmesdale Building Society?
There is nothing to stop you using your solicitor but Holmesdale Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Holmesdale Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Holmesdale Building Society your lawyer must to check the Holmesdale Building Society conveyancing instructions contained in the Part of CML Handbook for Holmesdale Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Holmesdale Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
What are the common reasons for a lender such as Holmesdale Building Society to withdraw a mortgage offer?
Banks and Building Societies such as Holmesdale Building Society can revoke their mortgage offer although this rarely happens. In the unlikely event that Holmesdale Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are 5 examples:
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Holmesdale Building Society conveyancing panel solicitors would be obliged to notify Holmesdale Building Society of a change in the price of the property.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the lender has to take account a recent change in law
- If the solicitor on the Holmesdale Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Holmesdale Building Society ‘s instructions
After shopping around on the internet I have found a solicitor having made sure that they are on the Holmesdale Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Holmesdale Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Holmesdale Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Holmesdale Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Holmesdale Building Society you could contact your them to see if they have a list of approved surveyors.