FAQs : The National Counties Building Society Solicitor Panel from members of the public
I would like to know the reason why all UK lawyers aren't included on the National Counties Building Society Conveyancing panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Please help. My lawyer is assuring me that he is legally obliged to order a Local Authority search because the firm are on the National Counties Building Society approved lawyer panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. As you are taking a mortgage with National Counties Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of National Counties Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated National Counties Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Whilst your website is a good idea there are many lawyers listed near London on the National Counties Building Society conveyancing panel. Can you recommend a specific firm on the National Counties Building Society approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am buying a semi-detached house and getting a mortgage with National Counties 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 National Counties 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 National Counties Building Society conveyancing panel in your location.
The mortgage over my property is with National Counties Building Society. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform National Counties Building Society?
Your original mortgage agreement with National Counties Building Society will provide that you need their approval prior to renting your property as this is likely to be a breach of National Counties Building Society’s mortgage conditions. It may be that National Counties Building Society will permit you to let 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 National Counties Building Society directly. It should not be necessary to do this via a National Counties Building Society conveyancing panel solicitor.
I can not work out if my mortgage offer requires a lease extension . I have called National Counties Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the National Counties Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the National Counties Building Society panel she or he must comply with the CML Handbook requirements for National Counties Building Society. Unless your lawyer obtains specific confirmation in writing that National Counties Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask National Counties Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the National Counties Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the National Counties Building Society mortgage in order to sell?
As regards the National Counties Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of National Counties Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.