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approved by Nottingham BS
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
Nottingham Building Society Conveyancing Panel Example Support Desk Enquires
Can you please explain the reason why all UK lawyers aren't included on the Nottingham Building Society Conveyancing panel?
Nottingham Building Society and other mortgage companies normally restrict either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Nottingham Building Society have no responsibility for the quality of advice provided by any member of Nottingham Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
I am buying a newly built duplex and my lawyer is informing me that she is duty bound to reveal incentives from the builder as her firm is on the Nottingham Building Society conveyancing panel. The Estate Agents are hassling me to exchange contracts and I dont want to delay deal. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Nottingham Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Nottingham Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Nottingham Building Society conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am in the process of refinancing my property does my lawyer have to be on the Nottingham Building Society Solicitor panel?
There is nothing to stop you using your solicitor but Nottingham Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham Building Society be concerned
Given that you are obtaining a mortgage with Nottingham Building Society your lawyer must to check the Nottingham Building Society conveyancing instructions contained in the Part of CML Handbook for Nottingham Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Nottingham Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I recently had an offer accepted on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Nottingham Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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?
A lender would 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.