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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.
Find an Approved Solicitor on the Nottingham Building Society Conveyancing Panel
FAQs for the Nottingham Building Society Solicitor Panel
My wife and I are first time buyers. Within the 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nottingham Building Society have this morning contacted us to advise us that they have now hit a problem as our lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Nottingham Building Society and see if they can apply for membership of the Nottingham Building Society conveyancing panel, but if that is not viable Nottingham Building Society will instruct their own lawyers to represent them. You don't have to instruct a firm on the Nottingham Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are approaching an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Nottingham Building Society. I am advised that, being on the Nottingham Building Society conveyancing panel and acting on their behalf he must inform Nottingham Building Society if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Nottingham Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Nottingham Building Society if you agree, failing which, your lawyer must cease to continue acting.
I see that you have a search directory identifying firms on the Nottingham Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am purchasing a terraced house and getting a mortgage with Nottingham Building Society. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Nottingham Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Nottingham Building Society conveyancing panel in your location.
Are all Conveyancing Quality Solicitors on the Nottingham Building Society conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I have paid off my mortgage with Nottingham Building Society. I assume I don't need a solicitor on the Nottingham Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Nottingham Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham Building Society mortgage from the register. Nottingham Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Nottingham Building Society has sent the Land Registry the discharge electronically, and
the Nottingham Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Nottingham Building Society mortgage has been paid off.
Intending to buy a house with a mortgage with Nottingham 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 Nottingham Building Society 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 Nottingham Building Society conveyancing panel