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approved by Nationwide BS
Ready to buy a new home? Failing to check that a lawyer is on the Nationwide BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Nationwide Building Society Conveyancing Panel
FAQs for the Nationwide Building Society Solicitor Panel
My property lawyer is not listed on the Nationwide BS Approved Panel. Is it possible for me to continue with my preferred solicitor notwithstanding that they are excluded from the Nationwide Building Society panel?
You will need to have a conveyancer complete the legal work required when you take out a Nationwide BS mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Nationwide Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Nationwide BS. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My conveyancer is asking me for personal identification documents saying that this is part of his retainer as a conveyancer on the Nationwide 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 Nationwide 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 Nationwide BS CML Handbook requirements last updated on Nationwide Building Society
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Nationwide BS conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The lawyers that just started acting on my purchase in London has without warning closed. They were on acting for me because I had to have a solicitor on the Nationwide Building Society conveyancing panel and my family lawyer was not. I paid them £200 on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nationwide BS conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
Are all Conveyancing Quality Solicitors on the Nationwide Building Society conveyancing panel?
A selection of 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 CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Is it the case that all conveyancing lawyers on the Nationwide BS conveyancing panel work on a no move no charge 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
Planning on purchasing a flat with a mortgage with Nationwide Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Nationwide Building Society conveyancing panel