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Ready to buy a new home? Failing to check that a lawyer is on the Nottingham BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Nottingham Building Society Conveyancing Panel? How can my firm be reinstated onto the Nottingham Building Society Conveyancing Panel?Find an Approved Solicitor on the Nottingham Building Society Conveyancing Panel
Common questions asked concerning the Nottingham Building Society Conveyancing Panel
My partner and I are novices when it comes to buying a property. Within the 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this afternoon contacted us to advise us that there is now an issue as our lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitors should contact Nottingham Building Society and see if they can apply for membership of the Nottingham Building Society conveyancing panel, but if that is not viable Nottingham Building Society will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the Nottingham Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Much to my surprise my solicitor has informed me that he requires identification documents stating that this is part of his retainer as a solicitor on the Nottingham Building Society Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Nottingham Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Nottingham Building Society CML Handbook requirements last updated on Nottingham Building Society
I see that you have a post code search directory identifying law firms on the Nottingham Building Society conveyancing panel. Do firms pay you a referral fee 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 Nottingham Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I would like to get my former partner taken off the mortgage deeds. Can Nottingham Building Society really tell me which solicitor I can or can not retain?
You can use any solicitor you like but Nottingham Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Nottingham Building Society solicitors panel
Can you point me to a directory of Nottingham Building Society panel solicitors on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I had instructed online conveyancers located in Manchester who are on the Nottingham Building Society solicitor panel. They have just invoiced me a separate fee of £175 for dealing with the Nottingham Building Society mortgage. Is this a supplemental conveyancing fee specified by Nottingham Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Nottingham Building Society but by your lawyers. Some firms on the Nottingham Building Society will charge an ‘acting for lender’ fee and others do not.
I had an offer accepted on an apartment on the 17th January 2014, valuation was booked 2 days after, received a clean bill of health. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Nottingham 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 Nottingham Building Society conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham Building Society to deal with your lawyers application to be on the Nottingham Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.