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How easy is it to change a solicitor as I need to find one who is on the Nationwide BS conveyancing panel. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My conveyancer is asking me for personal identification documents saying that this forms part of his legal duty as a conveyancer on the Nationwide BS Conveyancing panel. Can you confirm whether this is the case?
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 BS 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 Building Society CML Handbook requirements last updated on Nationwide BS
Do I need to pop into the offices of the Nationwide Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Leeds
so that I can pop in to their offices when needed.
Most conveyancing panel lawyers for Nationwide BS undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
We're in Birmingham, First time buyers purchasing with a mortgage (lender is Nationwide Building Society , but our lawyer is on the Nationwide BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide 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
Do most 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 Nationwide BS conveyancing panel requirements are different to Nationwide Building Society’s conveyancing panel criteria.
In what circumstances might Nationwide BS amend or withdraw their mortgage offer?
Lenders such as Nationwide BS can withdraw their mortgage offer although this rarely happens. should Nationwide Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
- Nationwide Building Society may amend or withdraw an offer if the Nationwide BS conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Many mortgage offers have an expiry date. Your lawyer should check this. Nationwide Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- If the borrower informs Nationwide BS of a change in security address
- Where to proceed with the Mortgage offer would be unlawful
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
I have a mortgage with Nationwide Building Society. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide BS?
Your original mortgage agreement with Nationwide Building Society will provide that you need their approval prior to renting your property as this is likely to be a breach of Nationwide BS’s mortgage conditions. It may be that Nationwide Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide BS directly. You need not do this via a Nationwide Building Society conveyancing panel lawyer.
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