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Ready to buy a new home? Failing to check that a lawyer is on the Nottingham 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 Nottingham Building Society Conveyancing Panel? How can my firm be reinstated onto the Nottingham Building Society Conveyancing Panel?Find an Approved Solicitor on the Nottingham Building Society Conveyancing Panel
Examples of recent questions relating to the Nottingham Building Society Conveyancing Panel
My financial adviser has says he needs my solicitor’s panel reference for the Nottingham Building Society conveyancing panel. Can you suggest how I find this out. I have called my local Nottingham Building Society office but they don't know it.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Nottingham Building Society panel reference.
Can you clarify something for me?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Nottingham Building Society was dated random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My solicitor says that as she is on the Nottingham Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Nottingham Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Nottingham Building Society)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Nottingham Building Society.
Do lenders provide you with an approved list of solicitors? How do you know who is on the Nottingham Building Society conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Nottingham Building Society conveyancing panel as opposed to being supplied with a list from Nottingham Building Society directly.
Please explain the implications if my solicitor is suspended from the Nottingham Building Society Solicitor panel prior to completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I had instructed online solicitors located in Manchester who are on the Nottingham Building Society solicitor panel. They have just invoiced me a separate fee of £175 for dealing with the Nottingham Building Society mortgage. Is this an additional conveyancing fee set by Nottingham Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Nottingham Building Society but by your lawyers. Some firms on the Nottingham Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We have a mortgage agreed in principle with Nottingham Building Society. Solicitors have been instructed? How long does it take for Nottingham Building Society to send the offer to our conveyancer
There is no definitive answer here. Have Nottingham Building Society done the valuation? Have you advised Nottingham Building Society as your lawyers details and checked that your lawyer is on the Nottingham Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I was told two weeks ago that my mortgage has been agreed
to by Nottingham Building Society. Is it usual for Nottingham Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nottingham Building Society to deal with your lawyers application to be on the Nottingham Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.