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FAQs for the National Counties Building Society Solicitor Panel
My husband and I are first time buyers. Within the 48 hours our property lawyer has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. National Counties Building Society have this evening contacted us to inform me that there is now an issue as our lawyer is not on their conveyancing panel. 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 Quality Scheme.
Your property lawyers should contact National Counties Building Society and see if they can apply for membership of the National Counties Building Society conveyancing panel, but if that is not viable National Counties Building Society will instruct their own solicitors to act. You don't have to instruct a firm on the National Counties Building Society conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Expecting to move into my new home next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for National Counties Building Society. What risks do National Counties Building Society expect the insurance to cover?
All property lawyers on the National Counties Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in National Counties Building Society’s Part 2 requirements of the CML Handbook (last updated on National Counties Building Society). Being on the National Counties Building Society conveyancing panel your lawyer is expect to follow these instructions.
I am buying a property and need a conveyancing solicitor in Manchester who is on the National Counties Building Society conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for National Counties Building Society . We don’t recommend any particular firm.
My grandmother passed away last year and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to National Counties Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then National Counties Building Society will insist on your using a conveyancer on the National Counties Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your National Counties Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the National Counties Building Society mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the National Counties Building Society conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Do conveyancing lawyers on the National Counties Building Society conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with National Counties Building Society. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with National Counties Building Society involved you will need to appoint a solicitor on the National Counties Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to National Counties Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the National Counties Building Society conveyancing panel.
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