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Q and A’s regarding the National Westminster Bank Conveyancing Panel
My husband and I are purchasing a 3 bedroom apartment in London with a mortgage from National Westminster Bank. We would like to retain our lawyer but National Westminster Bank says he's not on their "panel". We have to appoint one of the National Westminster Bank panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that National Westminster Bank use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the National Westminster Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
Our conveyancing solicitor has informed me that he requires proof of ID documents stating that this forms part of his obligations as a solicitor on the National Westminster Bank Solicitor panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with National Westminster Bank your lawyer also has to check ID documents to satisfy National Westminster Bank
Your search tool is useful but there are many lawyers listed near Newcastle on the National Westminster Bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for National Westminster Bank ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My grandfather passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to National Westminster Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then National Westminster Bank will insist on your using a conveyancer on the National Westminster Bank 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 Westminster Bank 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 Westminster Bank mortgage is registered as a charge at the Land Registry.
Do conveyancing solicitors on the National Westminster Bank conveyancing panel work on a no sale no fee basis?
In the main 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 package
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned National Westminster Bank on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the National Westminster Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the National Westminster Bank panel she or he must comply with the CML Handbook requirements for National Westminster Bank. Unless your lawyer obtains specific confirmation in writing that National Westminster Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask National Westminster Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, National Westminster Bank are being a right pain. The solicitor who is on the National Westminster Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but National Westminster Bank are requiring a building regulation certificate. Why do National Westminster Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that National Westminster Bank have referred the matter to their valuer. The reason why National Westminster Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.