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Ready to buy a new home? Failing to check that a lawyer is on the National 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 National Counties Building Society Conveyancing Panel? How can my firm be reinstated onto the National Counties Building Society Conveyancing Panel?Find an Approved Solicitor on the National Counties Building Society Conveyancing Panel
National Counties Building Society Conveyancing Panel : Questions and Answers
Is there a reason why all property lawyers aren't included on the National Counties Building Society Solicitor panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Our lawyer is asking me for identification documents saying that this is part of his legal duty as a solicitor on the National Counties Building Society Conveyancing panel. Am I being spun a yarn?
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 Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that National Counties 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 National Counties Building Society CML Handbook requirements last updated on National Counties Building Society
I see that you have a post code search directory listing law firms on the National Counties Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the National Counties Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
We're in Wales, First timers purchasing with a mortgage (lender is National Counties Building Society , but our lawyer is on the National Counties Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the National Counties Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is the case that all CQS (Conveyancing Quality Scheme) 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. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the National Counties Building Society conveyancing panel requirements are different to National Counties Building Society’s conveyancing panel criteria.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender National Counties Building Society be concerned
Given that you are obtaining a mortgage with National Counties Building Society your lawyer must to check the National Counties Building Society conveyancing instructions contained in the Part of CML Handbook for National Counties Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to National Counties Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.