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Ready to buy a new home? Failing to check that a lawyer is on the N&P BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Norwich and Peterborough Building Society Conveyancing Panel
Norwich and Peterborough Building Society Solicitor Panel Recently Asked Questions
Am I correct in assuming that the fact that my conveyancer is not identified on the Norwich and Peterborough Building Society Conveyancing panel that there is a problem with the standard of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Norwich and Peterborough Building Society.
I am due to move into my new home next Monday. 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 Norwich and Peterborough Building Society. What risks do Norwich and Peterborough Building Society expect the insurance to cover?
All property lawyers on the Norwich and Peterborough 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 Norwich and Peterborough Building Society’s Part 2 requirements of the CML Handbook (last updated on Norwich and Peterborough Building Society). Being on the Norwich and Peterborough Building Society conveyancing panel your lawyer is expect to follow these requirements.
How up to date is your database of lawyers on the Norwich and Peterborough Building Society conveyancing panel? Do Norwich and Peterborough Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Norwich and Peterborough Building Society conveyancing panel as opposed to being supplied with a list from Norwich and Peterborough Building Society directly.
I am selling my house. Does my solicitor have to be on the Norwich and Peterborough Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Norwich and Peterborough Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
We were going to get a DIP from Norwich and Peterborough Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Norwich and Peterborough Building Society recommend a solicitor on the Norwich and Peterborough Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Norwich and Peterborough Building Society conveyancing panel. The solicitor represents both you and the Norwich and Peterborough Building Society through the process.
My husband and I are in the throws of looking at flats and now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Norwich and Peterborough Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Norwich and Peterborough Building Society , make sure you remember to check that your lawyer is on the Norwich and Peterborough Building Society conveyancing panel.
I am selling my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Norwich and Peterborough Building Society are being problematic. The solicitor who is on the Norwich and Peterborough Building Society conveyancing panel is saying indemnity insurance will be fine but Norwich and Peterborough Building Society are insisting on a building regulation certificate. Why do Norwich and Peterborough Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Norwich and Peterborough Building Society have referred the matter to their valuer. The reason why Norwich and Peterborough Building Society 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.